As a minority shareholder you have the following rights:
1. You can attend the annual general meeting
2. you have the right to annual audited financial statements
Thats it.
Jeschem wrote:
I need to vent. I was staining my deck today ( not that anyone here should jump for joy about that) but as I was working I was getting hotter and hotter and it wasn't from the sun beating on my back. I was thinking:
Here we are with the price of NOT lower than it was last Sept. After all NOT has done at ROF and Windfall, our share price is less than last September! There has been a lot of news and comments since then hasn't there?.
It seems to me that we are forgetting that WE ARE SHAREHOLDERS - WE ARE PART OWNERS OF THIS COMPANY. I think we should be saying that we are mad as hell and we are not going to take it anymore. Here is why I say this.
From reading posts almost every day on this forum it is apparant that some members are unsure about what is being presented in some news releases. That is obvious from post after post by members questioning various aspects of the NRs. We seem to be getting vague answers from management. "Hold on to your shares is not very informative" We are told that News Releases have to be cleared or (co-authored?) by the legal department - or at least by lawyers making them semi- legalese. We are told SEC is watching and limiting what and how management can respond to it's shareholders ( owners) of their company. We have hired JPM to promote and work to maximize shareholder value. What the hell is going on here?
If lawyers are saying news releases have to be in semi-legalese or be a bit vague lets hear from these lawyers. We deserve an explanation why as owners we are not entitled to clear straight forward report so everyone can understand them. Lawyers tend to do this until ( as i've done with my lawyer) to tell them to cut it to the chase and speak in English. If they don't want to respond to this request I sure hope they are at the next GM.
SEC is watching!!! Well well. Since when can management not tell the owners in clear and timely fashion what is going on in their company. We do have shareholder rights. Maybe we should be phoning, writing, emailing, etc SEC to find out why they feel shareholders do not have the right to get straight forward information that everyone can understand. I got the impression from some posters that Richard would have liked to answer some questions but he felt SEC would not allow it.
JPM?? Have we heard anything from them lately? Anything ever? What are they doing to promote this company? Are they just here for free lunches they can bill to the company? As owners of this company why can we not get a progress report on what they have done or are doing? If its not much, lets fire them and get someone else. In my opinion they have done zilch in promoting the company and as far as enhancing share value - well we all know what they have done there don't we.
I feel I was entitled to this vent. Before some think I should be banished from the mail room to the parking lot - well - I bet I own a lot more shares of NOT than many on this formum so I feel entitled. And while on this point, since when if someone posts something that others may not like or offends their sensitive skin should they be told " if you don't like it sell your shares. Leave us along" Since when should a poster - a partner- a fellow owner be ignored or have their comments removed because it may offend some on this forum? WE ARE PARTNERS HERE - NO MATTER IF THE MAIL ROOM OR THE SUPER PRESIDENT IN THE CORNER OFFICE.
So-- fellow shareholders ( partners) if I am out of line let me know. I have the feeling I didn't need to say that. But I do feel better now :-)
Have a good day.
