It’s all rather exciting isn’t it .
According to that story M Rouane PHD is a bit of a dynamo ;
“
Yesterday’s merger announcement continues a turnaround by Echo, which was going nowhere eight months ago until Dr Ruane ousted founding managing director Ernst Kohler.”
Mr Jessup and Mr Sargeant had better be on their guards ...
Just when it seemed things might quieten down after those previously ‘ostentibly’ dissident shareholders desisted with their dissidence and called off their action...
https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvTDYC6wu1zhWZpeV1ke92GA==
https://hotcopper.com.au/threads/an...249d-requisition-notice.4316625/#.W27gwRo_Xmo
..Here is someone who may become
genuinely dissident right in the very middle of things !
And if he decides to be dissident and go for an oust Dr Rouane has a history of getting his way !
“The board coup was anything but smooth and required a locksmith to gain access to Echo’s office.”said the story
Dear me !
Why can’t the three of them just sit down nicely and work it out beforehand .
Not Mr Jessup you say?
He advised he was retiring effective immediately as of 17 July?
https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvTDYC6g+9yhmZpeV1ke92GA==
No ... no .
The fact is, according to the company’s own say so on August 2 he is still with Empire as an Executive Director after all!
They may have locked the door to the office already !
https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvTDYC6g27yBWZpeV1ke92GA==
Retrospectively I know I have been a little unkind calling Management out on some ‘events’ over the years and that you have most likely just managed your business along identical lines to your peers at many other ASX microcaps .
But you were right about Penny’s...all those years ago when you decided you could make something of the tenement that all those other companies had passed by and you secured it , and negotiated to sell it , and sold part....then suddenly bought it back again....then sold the part again to those partners you then kindly supported financially throughout the Blue Cap chapter and to whom you even kindly paid their share of the profits ..only to find they wanted to oust you and that they had debunked with the money and did not intend to pay what they owed
.
It’s been rough .
I am sure your shareholders support you in feeling it’s been rough.
And now you have a potential ouster, (potentially in cohorts with the ostentibly dissident shareholders ?)....
And it seems the guard is changing even though poor Mr Jessup may still be locked in his office ....
Yes ..as I said at the start, as an outsider looking in, times seem to be exciting ....
But confusing
And if Empire’s future is going to fully echo Echo Resources then it’s all going to be a bit difficult ...there was a stoush after that oust, alleged stolen car, maps, contracts, data, phones and more
...Supreme Court writs ...long running feuds ...
Most unpleasant
https://thewest.com.au/business/finance/echo-alleges-former-boss-took-4wd-laptops-ng-ya-122529
For anyone curious here’s another link to Echo’s possibly relevant history :
https://www.miningbusiness.net/content/echo-resources-ruane-bid-board-control-resisted
And according to here
http://thesophisticatedinvestor.com.au/wp-content/uploads/2017/06/20170622_Echo_Report.pdf as of June last year Mr Rouane still holds 18% of Echo and the ousted Ernst Kohler 6.5%
