NO Consolidation - Support 249D Board Spill29 Jan 2024 06:35
To all our fellow 88 UK Holders, I am a long-term 200+ Mil holder in Australia, who is very concerned by 88E announcing prior to this flow test which will impact our SP, that 88 are considering doing a consolidation at next AGM May 2024.... I encourage you all to pledge support either on here or join Hot Copper Australia forum, thank you.
Time for a direct thread "NO Consolidation" and "BOARD SPILL 249D"..... Love to see how our UK SH's feel about the consolidation and a new board. Those who don't support, all good.
Sad, that we have to go down this path to save one's investment isn't it.... The last 2.5 yrs under 88's new management imo has been appalling. look at the SP chart since DW left SP 4.0c to 0.004 and SOI doubled from 12 Bil SOI to 25 Bil SOI, and all but 1 Dir (only 13 mil) own NO shares (Consolidation doesn't impact the board imo) and almost doubled their obscene remuneration in this 2.5 yrs. Disgraceful and time for change imo.
I want to present 5% of SOI (1.24 bil shares) and have to sign my 249D to 88, I would appreciate any SH, especially the larger ones to just type your number of shares held and that you support a board spill, thanks.... Gives me an indication of whether I am wasting one's time.
To be clear, this board spill won't happen whilst the flow test is going on, as takes time to contact and get support from SH's, especially the overseas UK/OTC SH's. Plus have to breakdown the nominees etc.
Once I have good initial support from holders, especially the larger ones, (hopefully early Feb), then I will officially form a Share Holder Action Group (SHAG), Gmail account and then mail outs. I will ask for donations (held in trust with 2 signatories), amount depends on level of support, to assist funding a mail out, only top 1000 holders to save costs.
I hopefully will have strong support well before the end or after this flow test to present 88E with a 249D and then the process starts above ok. Simple process.
The 249D spill should be before our next AGM (hopefully our new board presents our AGM) and this poorly timed SP destroying consolidation vote will be the catalyst for many holders to support a spill, imo many SH's will be furious after this flow test of not seeing their breakeven SP reached, due to 88 releasing this poorly timed consolidation prior to flow testing, damage done imo.... IMO the SP has absolutely no chance of rising above many SH's average price... Hope I am wrong but seen way too many previous company's badly timed consol's and never ends well for holders imo.
So, imo the majority of retail holders will all be on decent losses, thanks to 88 imo only focusing on the corporate brokers and very large Instos/SI's, NOT long-term mum/dad holders who will get absolutely slaughtered if this poorly timed consolidation goes ahead imo. We should be celebrating a possible commercial well, NOT a poorly timed consolidation.
Time for change, please support and Vote "NO Consolidation" and "BOAR
Sign In
Follow the stocks
