by, 1st-August-2008 at 03:20 PM (5268 Views)
BMN are going to be in the crapper if this amended motion gets up.
I had to send this letter to them:
I'd like to express my disappointment at your continuous disclosure of events surrounding the High Court Motion.
As you would be no doubt aware this issue is of significant concern to shareholders and the general market, and you have failed to keep the market up to date with ongoing events.
Specifically, I note in your latest quarterly that several documents have been processed, and most concerning, Savanna have submitted an amended motion to include a claim that the MME was ‘functus officio’, in effect claiming that the Minister did not have the power to grant EPL3345. This occurred on 14 April. Why was the market not made aware of this, or others actions occurring on 30 May and 30 June?
While I am a small shareholder, if the claim is upheld (especially in relation to the amended motion) you have not provided me with adequate notice as to the general operations of the company that may affect its future earnings, or even functioning.
I do not expect any response, or explanation, but you are surely leaving yourself open to question, if events unfold in the wrong direction.
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