RE:RE:RE:Oh Canada, the land of great opportunitymdjbrown wrote: TimTimTim, what I find astonishing is the magnitude of these fraud shops in India. 700 crooks perfecting their craft on how defraud innocent people in Canada.
Those that think India is incapable of pulling off a heist of the century, like they almost did with KRN, better pay closer attention. They needed inside help, but based on what I have read, they were that close.
GSFC has some very very bright advisors, so I hope Robin and his team have put a game plan together for the next wave that is coming.
When this projects economics are proven to be the best in the industry, along with incresing potash prices, Karnalyte Resources will have a huge bullseye on its back.
A hostile takeover is a very real possibility here, and there is no better time to implement a Shareholder Rights Plan (Poison Pill). If you never need to use it, great, but it is better to have one in place and not use it, than not have one, when it is to late.
A poison pill with a flip in clause or Prefered Option plan eliminates any concerns of someone who already holds 22%, from stepping in a gaining control of the boardroom.
Watching for dark pools in shareholdings is useless, as there are millions of shares on the OBO list whos owners dont want to be known. There is a reason for that, and impossible to track.
GSFC supporters could easily accumulate shares, and no one would know the difference unless they bought more than 10% of the outstanding shares.
If anything was learned by the AGM election voting process, it was that shareholders are very confussed with how things work, which was very clear when more than 2 million shares were not counted, due to non beneficial shareholders arriving and wanting to vote their shares in person at the AGM. They couldn't and those shares did not stand.
With only 58.2% of the entire outstanding shares being voted in person or by proxy at the meeting, and GSFC now holding 22% of the entire float, people better start paying attention to more numbers than just the brine concentration percentages.
41.8% holders of the KRNs entire outstanding shares did not cast their vote!
A poison pill helps to addresses those concerns, and something to think about on this glorious weekend......
just my thoughts
MDJ so is your understanding that at present there is no posion pill in place to
protect shareholders from a hostile takeover?
GLTA