Petro Rio S.A. HRTPF

Letters To The CVM Are A Waste of Time

[buggati]

There is going to be a shareholder vote on all the proposals and that is how the R/S, the poison pill and other matters will be deceided. The bad news is the insiders have at least 35% of the shares if shareholders are against the proposals. IMO the removal of the poison pill lessens the chance of a takeover. Without the PP tanure and others can buy as many shares as they want without having to make an offer for the company. Tanure and others will make more money with hrt as a public company if commercial oil is discovered and "hrt goes to da moon". Historically a PP just protects entrenched mgt not shareholders. Look at gates at msft, harold hamm at continental, son at softbank, ma at alibaba, bezos at amazon, zuckerberg at facebook to name a few..all hold large stakes but made their billions taking company public not keeping it private. Shareholders still have the upper hand if enough vote..look how close razorburn came to being elected.
Nothsun is grand standing by making public a letter he supposedly sent to the CVM but as usual it is total BS.
A lot of investors, myself included, voted for razorburn as a director because his interests were alligned with shareholders. Go back and look at posts here and on IH...northsun posted he VOTED AGAINST RAZORBURN because of his "feeling" tanure and present management were in the best interest of shareholders and he implored razorburn to stop rocking the boat. Razorburn was running for change at hrt and predicted all the present actions would happen.