RE: RE: RE: JNR Announces Plan of Arrangement with Mr Savage Christmas Tree,
Your post is very much in the right direction. I believe that Stockholders should reach out for recourse knowing that the chances of having this impropriety addressed may be slim. There is always a first time.
The essense of the issue is takeovers where there are pre existing incestuous relationships. There seems to be a pattern whereby management of Junior Mining Companies, with pre existing incestuous relationships with companies that want to takeover the junior, believe they do not have to protect the stock holders interests.
To date, this management position is sustainable and reasonable because the perpatrators of these takeovers are not held accountable. I think the Denisson take over of JNR should be scrutinized by regulators. Stockholders in JNR who believe as I do, should contact the authority that regulates JNR and express their concerns. It is important to articulate the issue well, and be able to go beyond saying you are unhappy. You need to give your name and address as well, as we are descending to the real world here.
Lets do it, if we can do it well and in good faith. :)
Canada Moose.
PS If the words come, I may post further on this subject as its important to be able to articulate the matter beyond saying it smells really bad.
One element might be The deal should not be killed because at this point it might damage the stockholders. fair value should be established and paid.
It sure looks funny, the financing with dilution bringing the share price down followed by the takeover at an ostensible premium to the share price. The deal has a clause that any offer can be matched. That kills the likelihood of anyone coming in with a new offer. Why, Denisson knows more about JNR's vast holdings than anyone, and are better able than anyone else to make an valuation. ( I very reasonably question whether JNR acted on behalf of the stockholders to maximize value) Why the takeover followed by a plan of arrangement? Was this because their were loopholes in the takeover that exposed the perpatrators to recourse by the stockholders. ? Or was it to make more money for JNR's lawyer or is this sequence of events par for the course?
If a writer is conversant with other deals where pre existing incestuous relationships, were a factor adverse to the stockholders of the acquired company, it may be good to make mention of the pattern of lack of accountability when writing to the security regulating board. Even if you have sold your shares by now, it may not impact your ability to write and be heard.