RE: Last Push To Stop This Placement
I made some (minor) changes to the "complaint" letter and also corrected some errors. I sincerely hope that this will have some positive outcome to us the minority share holders.
At this stage I would love to know also who the major share holdrs are. Is Sprott in it too?
Dear Regulators.
As a shareholder of Monument Mining I strongly object to the recent Private Placement being brought forward for 80 million $ representing 160M shares plus the customary potential 15% over-subscription clause, representing a dilution from approx 220 M shares to 380 M (plus over sub.).
The shareholders were manipulated to approve the first Tulum placement for 140 million shares. This was done by Baldock holding the proverbial "gun" to the shareholders heads: Purchase of Mengapur is contingent on the proposed Private Placement (by insiders) or else no deal. And that was voted on the caveat that non voting share holders are automatically deemed to be in favour of such a deal. The regulators have stopped this placement for reasons that are unknown to us shareholders. This latest proposed Private Placement does not have shareholder approval.
The first placement was brought forward in order to finance the purchase of Mengapur project as a so called requirement to close the transaction. The transaction has closed and was financed by the company profit without this PP or any other PP.
There is no need for the present financing and no shareholder approval for this Private Placement that would give control of Monument Mining to a new control shareholder. This Private Placement is an effective sale of Monument Mining and accordingly should be conducted under the regulations required for the sale of a company.
I also object to Jean Edgar de Trentian being declared as an independent director of Monument Mining. He is the President and CEO of Orifer, a major shareholder of Monument Mining and the control shareholder of the associated corporation Veris Gold.
I also object to Graham Dickson being declared an independent director of Monument Mining. He is an employee of Veris Gold an associated company whereby Orifer is the control shareholder of Veris Gold.
The equity market exists for the sake of an economy based on capitalism. We require that regulators ensure that Monument Mining complies with all regulations and that Management and Board of Directors are honest in looking after the interest of the corporations and the shareholders.
The actions of management and the board of directors of Monument Mining has not been in the interest of the shareholders. The regulators have acted to protect the integrity of the markets on the prior Private Placements and the same needs to apply for this placement.
The board of directors have the option of bringing forward honest voting, excluding insiders and no non voting shareholders being counted as approving the PP illegally. This Private Placement must accompany full disclosure of all the facts related to the parties purchasing the shares and the requirements for this capital. We, the shareholders are afforded that right when a control position is being sold off.
Note also that the General Annual Meeting was postponed by 3 month presumably for the purpose to ram through this lates PP without shareholders voting on it BEFORE the now delayed GAM takes place. Short selling and internal trading of shares have been noted prior to the placements apparently for the sole reason to depress the share values (to make the PP look more acceptable) and I’m concerned that manipulation by the insiders is occurring.
Thanking you in advance
Wolf Engel
Hope this will help, my 2c worth,
Wolf E