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I'd be extremely doubtful that this EGM can go ahead. Who is going to pay for it? Given the company is in administration then the partners at Deloittes are responsible for any costs incurred and I'd seriously doubt if this was seen as a justifiable use of creditors funds. If I was a shareholder I'd demand proof that it will go along. Maybe call Deloitte in London and ask them?
Yes the EGM is going ahead. Deloitte's letter to shareholders says that Deloitte will be there but no other representative from the company will be in attendance. And who can blame them. There's going to be a lot of shareholders there and I don't think they will be in a good mood!!
Excellent. Deloitte have been working with the BoD for two years so I'm sure they can help with some of the questions arising over that period. Their original scope was to undertake diligence on the business plan (the one with Pococks blue sky ideas). They are widely thought to have been very soft on that such that the lenders looked at replacing them last year. They almost certainly had some form of duty of care to the lenders. All that being said I think they will just stonewall you with info on the process and not much else. They are likely to explain some of the points I've been making on here about the business being insolvent and the directors duties in such a situation. I don't think you'll come away feeling any more informed and certainly no happier. Angry mobs generally get nowhere.
BP I agree that Deloitte have a responsibility to answer questions on 'Conflict of Interest' which will, I'm sure be one of many HSG questions going into the future. I am of the opinion that the BOD seriously underestimated the reaction of the shareholders. This situation is not going to go away anytime soon. It's a pity that information posted on the HSG members website cannot be posted here as it would give a more pragmatic understanding of how the company managed to get into this position and would give a little more credence to why the group are persuing the issue so vociferously. All I can say is if you are a shareholder and can attend tomorrow - do so it will be in your long term interest.