Are they signed off with "Kind regards, GK". You have posted a lot and really said nothing. So in a nutshell your view is abandon the 249D and go to 'Class Action". Some specific questions for you on that view:
1. How long will the Class Action take to resolve and costs?
2. Why do you consider Class Action better than a 249D?
3. What will prevent the BOD say putting their money in the Caymans or even change assets to wife name and therefore nothing for SH to collect from Class Action? Yes one benefit is they may go to jail and never be directors again, but that does come at a cost to SH if pay the legal bills but have no money in return for that benefit.
4. Will GPP still be around at the end of the Class Action because IMO in a year's time GPP won't exist as trust in this management is shot (as per my post to you the other day and why a 249D is likely to be a better approach)?
4. Why isn't a 249D good given at least it will focus SH, ASX and potential investors on the issues of management?
5. What other options are available to GPP SH to seek management change in say the next 6 months?
6. Why would sophisticated new investors (note need a CR in due course as GPP will run out of money) put any money into GPP under this management? If they can raise it will be at such a low SP that any remaining shares in GPP might struggle to buy you a carton of VB.
7. If GPP was a subsidiary of say BHPB and the BOD were just managers of those subs, would BPHP a.) give them a pay rise, b.) sack them or c.) restructure the business and install new managers? Take your pick.
8. Why do you think GK and the BOD should remain? If your answer is they should go, then refer question 1 to 7 above.
Whilst I am sure the current proponents of the 249D will not stay long term if successful on the 249D, which I have also expressed I have my doubts given SH of GK and others own a lot of shares, I suspect GPP will be far better of with new blood. Obviously I have no idea what those doing the 249D intend doing, but what GPP need is new qualified management and in the now at least one of those been someone the market knows and respects (as may help in terms of restoring faith and possibly doing a CR at a higher SP raise than likely to be the case in the now). As I posted the other day I gave an opinion, like you, but I really haven't seen any other opinion from you apart from Class Action.
Without management change SH will lose everything and that too me will be the inevitable outcome here without mangagement change. - even if GPP ends up been a shell bought by someone else, at the end of the day when the shell is recapitalised I suspect existing shareholders would be offered 1 share in new entity for say plus 100 shares of your existing holdings (refer Pharmanet Group - PNA - shareholders when it subsequently became Calidus Resources, CAI a resource company, from recollection).
I said I wouldn't engage but frank questions to you. It is no point reading these endless threads without a clear direction around your views rather than the wish washy don't support the 249D, or it will fail, and go for class action etc etc.
For GPP SH I think you should work on the assumption that all your money is lost under this management so anything else will be a surprise. Personally I hope you make a good gain in another share to offset this loss, as that is the most likely outcome here IMO with this current management. The market criteria is about confidence, faith, progress, good management and luck. Obviously luck hasn't worked out for GPP at Turesi but in terms of the first 4 criteria I would say the market assessemnt is 'poor', so that is a long way to come back from if this company is run the current way.
All IMO IMO IMO IMO
GPP Price at posting:
0.5¢ Sentiment: None Disclosure: Not Held
