I believe everyone received the letter to sign and accept the...

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Girida

418 Posts.

18/03/18

12:07

Post #: 31836202
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Originally posted by Maysgr ↑

We find ourselves in this predicament mainly due to the lack of independent directors on the board.

If there were a majority of independent directors (and chairman), they could have stood up to Taurus and pushed through regardless of what Taurus wanted.

Taurus can see this is a money making machine. They don't want to share, they want it all for themselves. They also got the mine for a song.

How do they drive minority shareholders in to selling?

Use every excuse possible to delay relisting.
(20% free float)
(Unable to determine a suitable price for CR)
(Need new MD to be able to do a CR)

Say you object to relisting
Say you will seek delisting
Say minority shareholders will have no way to monetise their investment
Keep the shares suspended for 17 of the last 18 months

Taurus now have a solution to all of this.

Make a takeover offer, at a mind blowing 6% premium to the last price (anyone name the last company to accept a 6% premium for a takeover).

Make a low offer rounding up last price to nearest 10c.

Get an independent research report, which may recommend a slightly higher price.

Make ourselves look like good guys by increasing the offer slightly.

Everyone accepts, and just like the original purcbase, the mine is purchased for a song!

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I believe everyone received the letter to sign and accept the offer and also the letter from CEO stating that independent entity has been asked to do the analysis....

Is anyone signing and sending it back?

Cheers

RRP Price at posting: 8.5¢ Sentiment: Buy Disclosure: Held
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I believe everyone received the letter to sign and accept the...

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