Firering Strategic Minerals: From explorer to producer. Watch the video here.
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This proposal to de-list is ILLEGAL as per the promises made in the January "whitewash" circular • By AIM rules you only need 5% to get court order to block the resolution as per "Minority shareholders' rights vary depending on the percentage of shares/voting rights they hold in the company, as follows: At least 5%: right to: apply to court to prevent the conversion of a public company into a private company; call a general meeting"
Can't see the Whitewash circular on the Maestro website. Have they taken it down?
Now that does look half dodgy Looks, they can update and remove that quick enough when it suits, but come to updating the shareholder page and it’s still waiting since January.
Riddler's link from yesterday is still working:
https://www.maistro.com/investors/whitewash-circular/
Here's the full text of section 4 of part III of the whitewash circular:
INTENTIONS OF THE CONCERT PARTY REGARDING THE COMPANY'S BUSINESS Each member of the Concert Party has confirmed to the Company that they are not proposing, following the Subscription, to seek any change in the general nature of the Company's business. Each member of the Concert Party, and their concert parties, has also confirmed that, should the Proposal be implemented, they have no intention to make any changes regarding: - - - - - - - - the Company’s future business; the Company’s research and development functions; the continued employment of employees and management of the Company and its subsidiaries, including conditions of employment; the balance of the skills and functions of the employees and management; the strategic plans for the Company; employer contributions into the Company’s defined contribution pension scheme (including benefits for existing members and the admission of new members); the redeployment of the fixed assets of the Company; or the maintenance and continued admission of the Company’s ordinary shares to trading AIM. As such it is expected that there will be no repercussions on employment or the locations of the Company’s places of business, including on the location of the Company’s headquarters and headquarters functions
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The question now is whether intentions are the same as undertakings and IMO sadly they are not. I don't see the delisting being halted on these grounds, it will have to be stopped in the vote on 13 June. Best of luck to all holders.