RE:Shell Game/ScamThank you for stating what many of us are thinking here.
Didin't Maguire respond, when asked on one of the CCs not too long ago, that they had more than enough capital for PNG ops?
In my opinion these upper management jokers, by "privatizing" the business, is to allow for themselves and Cyrus (who collectively own 50% of the company) to acquire more shares on the cheap and strengthen their already significant position.
Check out the definition of shareholder oppression:
Shareholder oppression - Wikipedia I'm curious as to whether there is an abrogation of fiduciary responsibility here? What happens if the PNG price is greater than the payout? Are we being indirectly forced to invest more money to keep what is already ours (when we don't even need the capital raise)? And if so, what happens if we cannot afford to - are we forced to sell at such an opportune price to others?
So many questions here and so little answers. Let's wait for the circular to find out more and get some clarity.
Cheers and good luck to us all!