SNX 29.3% 5.3¢ sierra nevada gold inc.

vote 1 for rivkin, page-9

  1. 1,549 Posts.
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    I am curious to see why one would think they do not have 97c cash per share as it was clear to me in their results only a few weeks ago they do (unless you think they are in the process of burning it in the weeks leading up to the vote). I think the current climate is excellent for the rivkin proposal to succeed, i.e. how many people trust company management at the moment to spend shareholders funds wisely, let alone the directors of securenet? Also their must be a lot of investors out there hurting badly in the market, wouldnt they breathe a huge sigh of relief if they could get a MINIMUM of 90c for their holding (last i checked they were trading at 83/85) and use the funds elsewhere, or if they really believe in securenet they can reinvest back into it and actually gain exposure to the company rather than having money sitting in what effectively is a cash box whereby you can not redeem your cash for what it is worth! Obviously the directors will vote against this proposal as their jobs are more important when they control more shareholders money. To date I have not heard of anyone else who would vote against the proposal and the directors simply do not have enough voting power (another sign they they dont believe as strongly in the company as they would like you to think). Even if you do not like rivkin (and there seem to be many on this site that do not!), you would have to admit if his proposal succeeds I think it would be a timely victroy and reminder to company directors in general at the moment in letting them know you do have to answer to shareholders, and destroying shareholders wealth does not always end in a big fat payout for directors and them living happily ever after.
 
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