East West Petroleum Corp V.EW

RE:EW

[lageorges]

Lucky lady good post you are corre You are correct there are provisions in regulatory statutes and often company bylaws which allow for emergency meetings once a certain threshold number of shareholders make such a request

• I have by email requested a copy of the bylaws from the company however I haven’t received a response. If I was to make a serious effort I would need to send a request by registered mail and copy the regulatory authorities. I haven’t done so yet.
• When we set up the shareholders group the total number of shares represented by participants neared 15% of the total float. The group did not proceed with further action after the inaugural conference call as there was no expressed interest for many of the participants in leading or being part of a working group to explore possible courses of action. Circumstances may have changed now I will leave it up to readers to express their own feelings on the matter.
• The process for calling for an emergency meeting or taking any other shareholder action to support nominations for Board of Directors etc. is a complex one with multiple regulations and processes which demand compliance.
• To that end any such effort would in my mind require that any individual or group wanting to take action or arrange for an emergency meeting would require significant expertise in this area. It could be someone who has worked in the field, or a lawyer etc. if such individual is a member of the group is willing to volunteer their services then that is one hurdle last to overcome; however in the absence of that such services would have to be purchased. This would mean that group members would have to contribute.
• Another alternative is to find some entity or someone interested in the company who would be willing to lead the charge in support of their own interests and those of like-minded shareholders. This is not uncommon, however I am unaware of any entity or individual currently interested in the company’s prospects that would or could take on such role. Although as I mentioned in the previous post the company’s assets appear to exceed the share price by a significant amount at this point in time.
• With the cancellation of the Annual General Meeting/Special Meeting, and the other issues, ie the company being placed in default for all missions were errors in the circular, and the legal issues surrounding the CEO there is an obvious need for action to protect shareholder value that many would agree does not appear to have been the boards priority for quite some time.
• As mentioned in lucky ladies post the board is required to give notice of the new AGM/SM dates therefore minority shareholders have a unique opportunity at this point to take the lead and be proactive in supporting their own interests. It is possible if efforts were undertaken in short order that a special meeting could be arranged to occur prior to any effort by the current Board to reschedule the AGM and continue to pursue the Juva plan, the listing of EW and the spinoff of the oil and gas assets.
• I would be willing to assist anyone or any group wishing to take the lead or work on such an effort.
• In the alternative or coincidentally as several have mentioned public airing of this matter could be beneficial to shareholders. To that and I know that the Vancouver Sun ran the story on the CEOs arrest the reporters were Scott Brown Kevin Griffin and Keith Fraser. One of these reporters may be interested in a follow-up story if they were apprised of the plans for EW and Juva and some of the related concern shareholders have.
• Scott Brown can be reached at [e-mail]
• Kevin Griffin can be reached at [e-mail]
• Keith Fraser can be reached at [e-mail]

Let the board know what your thoughts are