Vote NO to Aurigin Foods Transaction, page-48

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MickySea

852 Posts.

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11/01/18

10:22

Post #: 30218060
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Originally posted by Bullion Baron ↑

Further to the above I have written an email to the company this morning and would encourage others to do likewise as there is still a few days before they intend on sending the Notice of General Meeting:

Dear Malcolm and Annie,

I am writing to you as a Dampier Gold (DAU) shareholder who is unhappy (based on information provided to date) with the proposed Aurigin Foods transaction released to the market yesterday. I do not believe DAU shareholders have been appropriately compensated in the new entity given they have worn the financial risks associated with the venture (and will continue to bear it through the unsecured loan). You have developed this business as Directors of DAU while receiving compensation of salary, fees & shares.

Note that I have already taken the following action:

* Made a Report of Misconduct to ASIC, as I believe you have not acted in the best interest of the company (DAU).

I would implore you to reconsider the terms of the transaction before sending the Notice of General Meeting. There is still time to propose a fair deal that works well for both yourselves and DAU shareholders, giving you time to get us on board with progressing the Aurigin Foods business which I believe has a lot of potential.

I will be taking the following actions if there is no change to the offer and should the 'Independent Experts Report' and Notice of General Meeting not contain information that provides adequate reasoning for DAU's small share in the new entity (as low as 1/5 or even 1/7 fully diluted):

* Make a complaint to the ASX regarding disclosure, should the appropriate details not be provided to shareholders to make an informed decision.

* Contact a number of shareholders in regards to the proposed vote in order to vote against the transaction.

Thank you for your consideration.

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Maybe you should share the email address you used with the other holders so they can join the chorus.

DAU Price at posting: 3.7¢ Sentiment: None Disclosure: Not Held
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Vote NO to Aurigin Foods Transaction, page-48

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