I think you have hit the nail on the head about Conglin and ASI.
What will Conglin do next? His group are apparently not short of money. Conglin was an early shareholder in AGO and sold out at a considerable profit when those shares were still at a high.
Will Conglin and ASI vote together or is their already a deal in place between them to cooperate?
It would be useful to all CAP shareholders if Bin Cal as a director of CAP made an announcement about how he intends to voting in advance of this meeting. Is he supporting the managements submission to shareholders to vote NO?
Anybody who is interested in ASI should perhaps take a look at Dejin Resources Limited in Hong Kong. It seems that after Cheung (ASI) took over that company its shares has dropped from around a $1.00 to 8 cents which included a 4 to 1 consolidation in the number of shares on issue. In other words the shares today are really worth less than 2 cents.
Silvergate (ASI) did not spend a lot of money to nobble BMG and then to buy into CAP for no reason. ASI always wanted Hawsons but they only had limited funds available if the BMG court records are accurate.
At the end of the day every shareholder should be interested in seeking the highest return for their investment and shares in CAP.
It would seem an almost an impossible task to do this by voting NO at the AMG especially if Conglin and ASI vote together.
Nick and the team should be trying to make sure that if ASI or anybody else wants to take over CAP they have to pay a full and fair market price for it.
This backdoor way of control without paying for it needs to be opposed by a more aggressive management.
CAP Price at posting:
23.8¢ Sentiment: Sell Disclosure: Not Held
