Meridian minorities expose Sentient Equity PartnersOpen Letter to the Investors in Sentient Equity Partners September 2018
The minority shareholders are all shareholders of Meridian Mining SE, a public company listed on the TSX-Venture Exchange, stock symbol, MNO.
We are writing to you, as we understand that you are an investor in the Sentient Group of Global Resources Fund.
Recently, the Sentient Equity Partners (SEP), who we understand manage your investment, have taken control of the MNO Board of Directors and management, and in our opinion, are destroying our joint assets in Brazil, in which we are all invested through MNO.
As we understand, this behavior is also being demonstrated by them in their management of other of your assets, for example Lead FX, Mawson, Tinka, North American Nickel and Lithium Corp.
The value of MNO stock has declined from a high of $1.28 per share last December, to presently $.045.
On May 24, 2018, SEP took control of the BOD of MNO and then installed their own BOD at our AGM, held in Victoria, B.C., on June 29, 2018. Most of us voted against that change and attended the AGM. It should be noted that Pieter Britz and other Managing Partners of SEP were, we believe, acting as a Shadow Board for MNO. This seems clear from the attached unofficial draft minutes.
We are very concerned that our minority rights are being violated by the actions of SEP, and we believe that the decline in our share price is directly a result of SEP’s management of our company’s assets.
We hope that you will be as concerned as us of the matters at hand.
Yours sincerely,
Meridian Minority Shareholders