Good afternoon
Fellow shareholders, non holders and everyone else that takes the time to read the threads.
As I have previously posted, when the company release details of the EGM, the nominated parties biography will be attached along with a "Members Statement." The current directors case will also be attached and presented along with their biographies, and yes there is a restriction to the word count in these documents.
Wanting the "nominated members" (at the whim of a few outspoken posters) to lay all to bear to present their cases prior to that, could very well prove to be a pointless exercise. I see no reason for them to expose themselves to be critiqued at this point in time, by issuing the 249D, the Requisitioning Members (RM's) are striving to achieve a positive outcome for all shareholders, and honestly even if it isn't successful, management have paid some sort of attention and now (all of a sudden) have became pro-active versus squat.
The RM's whilst acting in the best interests of all shareholders to issue the notice also reserve the right to withdraw the 249D at anytime prior to the EGM, a basis for this could very well be the "proposed acquisition" and what return to shareholder value it may bring and any other positive steps that will be announced when the trading halt is lifted.
Also, bear in mind that the final decision to proceed with issuing the 249D wasn't taken lightly. It also followed prior meetings with King, discussing the issues and a way to move forward.
Unfortunately, these meeting proved to be fruitless, hence finally issuing the 249D, call it what you want, soft hug or whatever but attempts were made to achieve an amicable outcome for the shareholders without resorting to this.
Did King take advantage after getting wind of shareholder unrest, maybe so.
Did the RM's err by allowing King some time (over a weekend) to shuffle the cards by not serving the 249D on the original day the indicated - wholeheartedly yes they did (IMO and thats my opinion and not that of the RM's).
cheers
All IMO only
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