I do believe we need legal counsel
Patrick has misrepresented us by stock dilution and the timing.ie get K in before the mandates resolved and made public.This deal will be done before New and Abx et al know all the facts.They would pay more to know more.All the facts,NRs,resource updates were not known to all suitors and retail investors prior to K offer,which Im sure they are privy to.
Even if this is a strategy it fails on stock dilution and timing.He has created an unlevel playing field for other bidders.This is all contrary to shareholder interests and can only be construed as actionable.
Patrick has abused his position and acted contrary to shareholder value,which is his raison d'etre.
Ask yourself what would you do in his situation(with SH value in mind)........similar,but wait for all laws,mandates,news updates,in other words all the good news to be made public and no firesale PP,at $4.75 its akin to insider trading as they know more than is public.He has shaved money off of the offer by preempting the above points.........Do you think he has our best interests at heart,if not then we need to hire someone who does.This is a measured response to his flagrant disregard for shareholder value.Waiting and seeing will cost you.
I plan on mailing,emailing above letter to management.That is the minimum I will do.Any thoughts?Any help would be appreciated.
I was mad,now I want what Im entitled to,maximise shareholder value by any means possible.
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