RE:RE:RE:RE:RE:FrontFour submits financing offer and commentsHave you been in contact with FF? Did they share their strategy with you?
Yes I have. No, they did not. Why would they? There are quite a few National Instruments that deal with the legalise of corporate governance and securities trading. The process will unfold accordingly.
I believe these allegations are quite serious and have serious consequences, both for transgressors and for accusors who cannot support their allegations. For FFC to suggest these allegations publicly, they must have a defendable position. They are concerned shareholders and, considering the destruction of shareholder value, all shareholders should be concerned.
I have been through this before, with a BOD that became secretive, stacked the board with henchmen, got rid of original management and board members, destroyed shareholder value, refuse to call an AGM and then tried to make a lowball offer for the company. Another offer came in that shareholders accepted, even after the BOD tried to sweeten the pot.
All in all, I think my interests are aligned with FFC, at this point. I also think it in my interests to have a vote on a deal rather than allow this BOD to dismantle the company in secret, with secret alleged finders fees for non-shareholders.