RE: Stephen an Sachin wrong 'again'14 Dec 2023 12:42
Some bull5h1t from Stephen an Sachin to defend their salaries :
The amateurism is typical of the Requisitioning Shareholders' approaches to Reabold and the Board believes it has resulted in certain institutional Shareholders exiting their position in the Company, who consider the approach taken by the Requisitioning Shareholders to be below the standards of business within which they operate.
Kamran Sattar has attempted shareholder activism before and deployed similar tactics. The Board notes the announcement made by Bushveld Minerals Limited on 10 October 2023, stating that there had been market speculation regarding Kamran Sattar and Portillion's intention to call a general meeting of shareholders in order to effect boardroom changes; however, Mr. Sattar subsequently confirmed in writing that he no longer intended to requisition a general meeting. The Board considers this to demonstrate the lack of coherence in Mr. Sattar's approach to shareholder activism, which Reabold has also had to contend with. His disregard for confidentiality and public market conduct through his activist approaches, which have repeatedly been leaked through media outlets and internet message boards, is a major cause for concern.
The Board notes that both Portillion and Kamran Sattar are regulated by the Financial Conduct Authority and is therefore astounded at the unprofessional approach to these serious matters relating to market conduct, some of which impact directly on shareholder value, where many of these campaigns seem to be carried out without appropriate professional advice.
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