One more post before I disappear into the countryside again. Yesterday afternoon I sent an email through the company website and soon after recieved a reply from NB.
After consideration I'll be voting yes for both tranches. The fact that the South African ultra high net worth investors have to date been increasing their position in addition to what was allocated to them in the prior placement is promising. It would make sense to target them again and it removes much anxiety from this issue.
What you all do is your own decision, however, being able to progress pilgangoora as well as gain backing from those that may have connections will allow us to progress the company all that much quicker.
NB's email reply reads as follows. Please note I did ask him if it was fine to share and he had no issues doing so.
Thank you for your email. You have raised a number of matters which are of concern to us all.
1. Many of the first tranche Con Note attached options have been converted and sold. The offending parties are New York based high net worth individuals who unfortunately took an opportunistic view and quickly sold the converted options. The South African parties who participated in the balance of tranche 1 have not sold their converted options and have been in the market increasing their position.
2. All of the Tranche 2 Con Notes are going to ultra high net worth South Africans who are all close associates of our Chairman Tony Leibowitz. It is our very strong view that none of these people are interested in taking a quick profit and we expect they will all be long term supporters of PLS. We will be working very hard to ensure this is the case.
3. The $4M is essential to our 2015 budget particularly as we are now planning to acquire 100% of Tabba Tabba.
4. We did the deal with the South Africans when the share price was around 4c and it would be entirely inappropriate for PLS to renege on the deal. These guys are wealthy, powerful well connected businessman who can generate a lot of support for PLS through their global networks. We have already started to see some benefit through these extended global connections.
I appreciate your concerns and I can assure you we will be working very hard to ensure our market remains strong and stable. Your support at the August EGM will be very much appreciated.
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