RE: BMR Annual/Ordinary General Meetings2 Aug 2019 13:18
Klue
A Borrelli - liar or serial truth massager? You decide. I make no comment other than:-
1. Tweet Jan 9th - We are working on a circular with proposals subject to shareholder approval for the acquisition of a further licence and the demerger of the royalty agreement into a separate company to be owned pro rata by shareholders to protect value. Really??
2. In a telephone conversation with me some months ago, and prior to the coffers being topped up more recently, when I queried the share price value compared with the pre-suspension SP of 1.98p, he assured me that as far as he was concerned, the SP was already worth multiples of that price. Yet a few months later, we are told that the SP needs to be subdivided as the value of each share is clearly less than the 1p par value of the shares.
So what has happened to all that value which Borrelli spoke so confidently about just a few months ago?
Or could it be that the value is still there but the current share structure doesn't suit the board's plans.
Make no mistake, we vote this lot of crap through and LTHs will be wiped out.