WE HAVE THE POWER, page-22

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coppernoob

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20/06/19

16:17

Post #: 39157995
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Originally posted by unsolded: ↑

The 5% goal has been totally smashed!

I have received way more emails than expected, especially in the last couple of days. This is sign that we are ready to take action to defend our rights.

The proposal to remove the directors is just one of the options available. We need to take in consideration though, that we don't know how many investors are involved in those horrible conditions proposed they want to put forward. They may have already taken into account in advance what their voting power is collectively to make sure they stay in control.

While this remains anyway a viable option, it will take a while before we get to know the results of the meeting, and should not be in our favour (the minority), we may still found ourselves unnecessary diluted.

There is another option that I have been considering in the last couple of days as well, once I realized the breaches of the Corporation Act they may be responsible for. In cases such this, several shareholders who have suffered from the same wrongdoing can get together to form a class action.

Such kind of legal action does not necessarily require money to be funded. Many lawyers (should the case be strong) are willing to take the job on a "no win no fee" basis. So basically they first have a look at the case, should they be satisfied they can make it, they will carry on the legal action free of charge for us shareholders. They will ultimately get paid deducting their fee from the money released at settlement.

Anyone who is willing to discuss or have any other ideas or suggestions please feel free to get in touch, so that together we will be able to find the most suitable way to get our investment back and to bring at the same time more fairness in the stock market.

I intend anyway to call a couple of lawyers next week and see whether they are willing to fight for our cause, so we can have a better view of what may be the best way to move forward.

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Maurice Blackburn do class actions for shareholders on a "no win no fee basis".

SF1 Price at posting: 0.3¢ Sentiment: None Disclosure: Held
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WE HAVE THE POWER, page-22

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