Originally posted by Purpose
Catalogue
As an ex director standing for re election, as you have advised on HC
Yesterday you posted that you were concerned by a serious threat to your family. How quickly that was forgotten in your very next post.
Shareholders have a right to view the books of the company they are shareholders in. They also have the right to issue discovery orders for the shares that directors have issued to themselves , especially when they don't provide the financial reports according to the listing rules.
As an ex director, as you have advised, if there is nothing to hide, you should welcome the cloud of doubt regarding directors share issuance to be shown to be proper and Directors actually HAVE put the money in that they purport to have done. In this situation the discovery will be at the cost of shareholders.
Should the discovery find that a criminal offence has occurred then the shares will be cancelled and equity
of ALL shareholders who actually paid up will improve as there is less shares on offer in the company
If you have got a problem with shareholders exercising their rights then it's time to get used to that. The corporate governance of this company is about to be fully tested and YES if shareholders action is proven correct, they as shareholders have the right to be repaid the cost of that discovery.
For mine your post indicates the fear of this board of discovery, as my original post was quickly moderated.
There is no smoke or mirrors with the alliance. The update you refer to carried the authors name.
Anyshareholder can receive the updates, even shareholders close to the board, which there are many.
Contact
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It appears that the shareholder alliance has an aim of re listing the company and the current directors and yourself are more interested in hiding the past..
My disclosure complies with the rules of HC, has always done and always will.as regards to my position of the BOD
The board can get a court order if it has not already done as there will be no free pass to there lawyers to attempt to stop the discovery of the directors share issuance will go ahead in any event. Discovery is a service that all shareholders should support.
All it asks for is a level playing field.
I state the above from my knowledge to date. I am not the plaintiff of the action
IMO. DYOR
Ask Mr Ping Huang he was a director at the same time as me. Mr Huang is on your ticket.
