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Ann: Revised Terms on Corporate Transaction with ERM Power, page-53

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boeing777

283 Posts.

31/10/14

15:10

Post #: 14217107
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Originally posted by joewolf ↑

Sorry Surandy but your board can only do what is available to them as options magicians they are not. Really looking in from the outside this company has no money - is an explorer without any cash and currently survives because ERM keeps assisting them to cover their shortfall. They have one operating asset for which previous management , in my opinion, overpaid and they have had to effect changes, repairs and improvements.

As regards who expects a better deal read the posts of those on this forum. Shareholders want an offer a, a buyout , to recover what they invested. Bad board of directors etc etc. ERM are by stealth getting something for nothing. etc. Really I think its time we all realised if this was such a great opportunity then why hasn't anyone stepped in with an offer. I believe that ERM should just stand back and let the chips fall where they do. Why is it a punitive interest rate if we vote the deal down and cannot repay our borrowings. If we cannot get commercial bankers to fund the debt why should ERM have to carry that debt.
Really what I am learning from this forum is that we have very short memories and in fact want someone else to pay for us having been taken to the CR 97 times.

There are some toxic investments - In my portfolio this is becoming one of them. No matter how logical the process is it really isnt seen in commercial context but really trying to blame someone for our investment decisions.

If we can get a better deal - No-one seems to be making any approach to the board - so why dont they because this is a very high risk investment right now.

In business either put up or shut-up is my motto - So if the ERM loan is not wanted then do a CR - No we dont want that because not many will take up rights and share will just fall further. We dont want to pay the top up ...

I actually dont want ERM to do the deal beacuse I think EGO is becoming toxic and will embroil ERM in negative debate for a very long time.

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Get it right, it is 79 capital raises and if you read my last posts, I am all for a capital raise to tie us over tell September 2015.

What ever money had been loaned we have payed back or are paying the interest on it. ERM are not holding empire up, there just given us a letter of comfit too the bank...
we pay bank internet plus 1% interest so ERM has never been paying personal money. Stop being a cry baby. The vote should be delayed tell the reserves are released and valued.
Boeing777

EPW Price at posting: $1.81 Sentiment: Sell Disclosure: Not Held

EGO Price at posting: 0.6¢ Sentiment: Hold Disclosure: Held
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Ann: Revised Terms on Corporate Transaction with ERM Power, page-53

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