and suggest (hope) other shareholders do the same. You can bet they will be wondering whether this vote will get across the line so the least we can do is tell them that there is some discontent out here in punter land.
Dear Richard
I have just read the details of the AGM that were posted on ASX today. As a small shareholder I would like to know how this deal with MM is in my interest. The independent expert has said these mines are being sold at well below appropriate valuation and their calculations do not take into account the recent run up in commodities prices. Grant Samual has concluded that the deal is in our best interest but I believe that other solutions to OZL's problems would provide a better outcome for shareholders.
Given the improving financial situation, why can't OZL refinance? Go ahead with the sale of Martabe and raise capital to cover the borrowings to banks.
Second point, Michelmore is now compromised. He has a conflict of interest and should no longer be involved in negotiations that determine the future of OZL.
Please pass these comments on to Barry Cusack. He is supposed to be protecting the interests of shareholders but I see little evidence of this.
Finally, I think OZL will have trouble getting Resolution 1 passed by shareholders! It is disingenuous of OZL management to use the threat of administration to get this through.
Cheers
OZL Price at posting:
81.5¢ Sentiment: Hold Disclosure: Held
