We can be bullied and sell ...or we can fight.
There is a tremendous sense of spirit and defiance on this board, stock house and stockigloo. Thats a good thing, because personally (and its getting personal) I will not be ripped off by theives that are obscenely paid, yet fail to have the best interest shareholders at heart. They are stewards of this company and IMO they have abused their right to lead. 13.5 Million breakup fee is extortion. The conference call was one Major lie after another. They are either foolish or exceedingly arrogant, but either way this is no longer about them, its about us and our rights.
There are countless measures that can be employed by us small retail shareholders and if one looked closely at the stats, the cases and the results, you would see that dissident shareholders can be very powerful. I know some (like Blizzy) have taken the early steps in forming a block of shares ...a voice, and this an important first step. There are avenues that can assist us in bringing our efforts forward and creating significant change. Aside from a laundy list of capable legal teams that specialize in shareholders rights there are non-profit orgs and experts all over canada that can be of great assistance. A few hours searching google under dissident shareholders rights in Canada and you will find an impressive array of David vs Goliath battles that have been hugely sucessful for the little guy.
I have spent the day reading recent cases and the # of these instances are climbing exponentially in Canada particularly in the mining sector. Be mindful that the action brought about by dissident shareholders can be incredibly effective.
Mergers can be twarted
Directors can be ousted and replaced
Shareholders can be heard.
Where a small percentage of organized holders can command a special meeting be held and significant change can be effected by the masses voting.
Canadian law:
recognizes a fundamental right of dissident shareholders holding at least five per cent of votes to requisition a meeting of shareholders. The underlying policy seeks to ensure that shareholders who can muster sufficient support to meet the 5% threshold, notwithstanding their minority position and an unwilling board of directors, are able to put forward matters for consideration by all of the shareholders entitled to vote.
I suggest we continue to amass support (my hat is off to you Blizzy) its time for shareholders to give this rotten tree a shake back.
Paydirt13
