Short term holder, long time advocate of taking the fight to the bastards....... (Check FMS United vs Todd for your own view on this)
I feel your pain and this is is an all too common occurrence......... Directors not having the fortitude to forward carry this company and in it for their own interests. Agree or disagree, but I see a lot of anger here, similar to a situation a few years ago over at FMS.
So what can we do....... Actaully a lot! And it is very powerful, once you are informed of SH rights and options. But are you up for the fight!?
In short, I and a handful of faithful FMS shareholders took on the FMS BOD several years ago and stopped a way undervalued deal going ahead. We won and all SH retained their company and enjoyed an ~ 3000% increase to the initial TO offer. The rounds went on, followed by higher TO prices but individual shareholders united and stood their ground. But this takes dedicated communication, no hidden agendas and a common purpose.
This did come at a huge Personal cost to me, with attacks from all angles. I have gone underground since we won and achieved our mission, I haven’t posted or voiced any opinion in several years until today. Be under no illusion, this takes a lot of energy and a big fight, but it can be done.
We raised thousands of $ to have the support and top cover of a lawyer, road show expenses, flyers and mail outs to all shareholders, and we played are cards straight and ensured we didn’t trip up along the very fragile road when Shareholders “Unite”. There have been many press releases on the FMS United vs Todd deal which squeezed the BOD and went a small way to keeping and all too common bunch of shifty directors, slightly more opaque. More importantly, SH were able to retain control of their company and the cream was an approx 3000% increase in the share price (0.025 to 10c)
If anyone is serious about putting a lot of time aside, for free, with good intent, then I’m happy to walk you through and suppor this process.
There are many other articles, but have a read of the below.
BTW forget ASIC or litigation, the first is toothless (Anyone seeing the royal commission into banking would understand this) and the latter is potentially costly and fraught with delays and potentially a great loss to company cashflow.....
