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My 110k will be used to vote no - will send e-mail confirmation shortly.
Boosh - don't underestimate the importance of shareholders like yourself, for every share you vote Geo will have to find 3 times as many from a dwindling pool.
The reason it is important that those planning to vote No contact Moneylender is that if we determine it's appropriate to take additional votes at the upcoming meeting e.g. Expand consideration of offer to include shares, mergers or asset sales. there needs to be a minimum % of shareholders to demand this.
Confirmation email sent to Moneylender
Re. Littlepost's post at 07.34 this morning:
This shows the depth of the BoD's deception which, in the light of what has transpired, is bordering upon being criminal.
Confirmation email sent to Moneylender.
@jointhedots - to support your part ".. suspect small shareholders represent at least another 100m, maybe they don't even read BB's..." - I have a small holding of 3,560, but have already sent a secure message to my broker (AJ Bell YouInvest), and they have confirmed that they will create a Corporate Action once they hear of the date that voting commences - my vote is NO DEAL.
I read this BB, but as I am classed as an amateur and my holding isnt something to scream about, I just follow in the shadows. I was hoping to increase my holding, but am a little dubious - but mainly hold a large holding in EUA and VAST.
GLA
100m shares totally negates 400m shares and the YES vote disclosed thus far is totally offset Already. So all square so far and we are playing for around 800m shares and we only need 200m of these.
I suspect small shareholders represent at least another 100m, maybe they don't even read BB's, but there is no reason to assume they will be any less annoyed than us as could be the case with some II's.
The game is on and IMO we could eventually get a better outcome if we remain resolute, the key now is the arrival of an alternative option - if another competitive offer comes forward then the chances of the Geo deal going through will shrink dramatically
Moneylender has so far been informed of 100M shares prepared to vote against the SoA. This is from emails of over 100 PIs.
At more than 8% this is greater than all the Directors together and each II individually (on figures from the SoA document or latest Annual Report). The only single holding greater being Michinoko.
As a starting point there is now credible and serious impetus against the SoA, but more support is needed.
For those here who have not yet informed him of their support, please email your number of shares to Moneylender@GMX.com
If you gave your shares in a BB post please send again via email clarifying. This will also give a means of communication and report progress 'off BB' if desirable.
Be assured that, other than the running total, individual holdings and identities are totally confidential to him alone.
Every share counts.
5t November SP was 19.5 BoD advice to shareholders was do nothing. You gotta laugh :)
Just pledged my 200,000 to no vote.
Moneylender I get back on that squash court followed by a few pints next time I am down - Will drag Glenn along as well. great job mate
Thank you
CHoppy: ML’s email in his earlier message:
“I might add that several people have pledged on BB's and I would prefer an email confirmation, so I ask if you have pledged your support please confirm with a quick Email to Moneylender@gmx.com all I want is nubmers to make life easy. lol
”
what's your email again ML - I'm in
Thank you, Moneylender. You’re doing a great job here.
100m shares is over 8% which means over 24% would have to be in favour to neutralise this (provided that everyone does indeed vote). Clearly some Institutionals will need to vote against too, but I imagine that some of them (those who are longer-term, value investors) will indeed vote against the current bid.
I can’t answer Margaret’s question but it raised another for me: can market-makers vote their shares in these circumstances? Surely they are conflicted.
Just sent this to the info email address:
Hello,
I imagine you will have a number of emails from disgruntled PI’s who have looked at Amerisur as a company with a good investment opportunity in spite of the markets determination to lower the share price to an unjustifiably low price of £ 0.12.
Its not so long ago that the board offered shares in the business at £ 0.25, yet now even after the excellent OXY deal, increase in bopd, increasing bank balances, zero debt, increased pipeline traffic and the ‘Ocean of Oil’, they have now decided that the company is actually worth almost 30% less.
I am not expecting a reply but, rest assured, I will be using my 1/1200th of the shares in Amerisur I own to vote this deal down. I know a great deal of other PI’s who feel the same and we may just garner enough support to show our board our collective disdain at their support for this deal and scupper this abomination of an offer. To quote our Baird... ‘something is rotten in the state of Denmark’
OK, I didnt need to add the last bit...
Yes I do well spotted, the count is nearing 100M shares.
Note to self dont post after going to the pub!!
you meant 100M, right?
Great work. One option might be to go throught the declared interest Rns and make contact with the smaller iis toake them aware that there is a significant group of PIs who will be voting against?
Great work. One option might be to go throught the declared interest Rns and make contact with the smaller iis toake them aware that there is a significant group of PIs who will be voting against?
Evening all
A terrific respose from everyone who are dissatisfied withthis situation.
This could not come at a worse time for me as I have just bought another house
and am in the middle of a full renovation job.
I have done a rough calculation this evening and we are just under 100k pledged. I might add that several people have pledged on BB's and I would prefer an email confirmation, so I ask if you have pledged your support please confirm with a quick Email to Moneylender@gmx.com all I want is nubmers to make life easy. lol
Where do we go from here is the next question, anyone know a corporate lawyer that can help or press contacts and even institution contacts.
I have not had time to reed the Seekingalpha article yet although a quick scan
looks like we are worth double the offer!!