TSXV:MGR.H - Post by User
Comment by
malloney25on Jun 23, 2008 6:39pm
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Post# 15219218
RE: SPQ RS
RE: SPQ RSAnd too bad MGR management never had the balls to publicise the percentage of votes actually received in support of the reverse split. To the best of my knowledge, all they ever did was issue a brief note saying that the RS got accepted at their special meeting, but without actual voting results. For good reason I should think.
Bet that only a tiny percentage of shareholders cared to show up for the meeting anyway.
Nobody is making a big issue out of it but fact is that in very many cases the shareholder meetings of juniors only represent a small fraction of total holdership, often 25 per cent or less.
True, MGR holders could have attented the meeting or sold thier shares pre-reverse split. So fact of the matter is that management got away with screwing long-time holders by introducing the RS. The more it now makes their post-split policy of hastily further inflating the number of issued shares at ever-decreasing prices a shady one indeed.
When MGR issued the latest set of drill results recently, once again the results didn't look too shabby at all.
Y'all saw what happened to the share price - couldn't hold any plus, not even for one day.
As we speak, MGR management's credibilty (not Murgors metal-in-the ground value!) is close to zero.