RE: RE: RE: RE: RE:Quiet around here.Simmer and Jack has to put the item on the agenda because of the share conversion request of Aberdeen, therefore it has to state then necessary information and warnings etc.
However, they sen d a letter to Aberdeen saying that they do not intend to repay the 10M$ if the conversion is denied because they think it is not explicitly stated in the contract that they have to. Therefore they will advice to vote against.
Aberdeen has some bad luck here and they might have been not cautious enough,
the worst part of the story is that they spent their entire budget thinking they'd get the 10M$ (or more than equivalent in shares) and are now almost unable to average down on positions, support cash strapped companies or do significant new investments.
This represents a huge loss for me and I got out for the biggest part,
but that is entirely my responsibility.
If the economy recovers, Aberdeen should revalue - however
the better strategy seems to me to invest in the companies they hold,
(eg Central Sun recently, or Crowflight, Avion might explode if timing and goldprice hold or on drillresults, ...)
if you're counting on economic recovery and still trust management.
Regards.