RE:UpdateLageorges:
No Shareholder vote yet & Sidoo is moving assets!!:
"The Company has incorporated a wholly owned subsidiary, East West Oil and Gas Limited and is in process of transferring all of the Company's oil and gas assets to this wholly owned subsidiary."
You condone this blatant slap in the face of we shareholders? Also has he sown up this deal with the required percentage of votes? Is the majority a super or a simple majority in this upcoming vote? No one has found the answer to the 67% majority required on this deal??? Anyone know??? His obvious contempt for anyone who disagrees or even offers an alternative borders on dictatorship. Seems his way is the ONLY way to move forward! His actions on these accounts negates what principles form the basis of shareholder's powers. OR will he end-round the vote or make sure shareholders' voting proxies arrive TOO late to be acted upon, thus giving the share counts to management.
The it follows, I quote:
"On completion of the transaction with Juva the shareholders of the Company will own one share of East West Oil and Gas Limited for each share held in the Company and shareholders will also own 1 share of Juva for each 10 shares owned in the Company."
We don't get a justifiable 5 for 1 split for our upfront $4 million CAD. All this without a SINGLE effort to communicate & be open to shareholder alternatives! I see Sidoo#2 has vacanted the Board, possibly a more lucrative position awaits the transacting of this deal. Many investors wonder why this form of "rape" continues in the "free for all" Canadian markets. If it happened in the US Sidoo would quickly be held accountable. Shameful, out right theft is the standard in the Canadian markets, & they get away with it. Lageorges I would say a NO vote simply on Sidoo's actions is prudently justified.