IFC InvolvementThe IFC has a large stake in EOM, over 10 million shares. I am not sure of this but I believe the IFC participated in the PPs where we were barred. Please correct me if the IFC did not participate. I mention this because after the Ombudsman report it was clear the IFC would not make further investment in EOM.
Now, if they were not barred from investing, would they have been "participants" in the second tranche? It follows they could then benefit from the CRV. Anna was asked specifically what the plan is for distribution of proceeds under the CRV for the residual 29% or so. The simple answer would have been to share the proceeds according to the number of shares held. No, Anna said distribution would be at the discretion of the board. No transparancy whatsoever from this board.
This brings me back to the IFC. We have no idea if, or how, they voted on the second tranche. I do believe we are all a bit paranoid about the plans of this board of directors. I do have faith in the integrity of the World Bank, but I am not so sure where their money is involved. If Anna and her crowd need votes, it is indeed possible that the IMF pot could be sweetened through discretion in the distribution of the CVR residual. That would again reduce our payout.
i have no idea if this is indeed taking place but the lack of transparancy makes it plausible indeed. We need to know the position of the IFC, perhaps the Concerned Shareholders could confer with them directly.