RE:RE:RE:RE:RE:RE:Easy to manipulate the share price.Hi Puffertime
I did not miss the core of your post.
You mentions that there could not be manipulation when only 1% of the float is traded.
My point is that, this is why Abcourt could be manipulated because there is no trading and no interest.
Only a few thousands dollars can bring the share price of Abcourt up or down by 10-20% .
The share price cannot be manipulated for years but is easily manipulated on a daily basis.
It was 2 days before a PP was done.
Try to manipulate Apple,Microsoft, Tesla with big float and it would take hundred of billions of dollars to be succesfull.
The share price of Abcourt and Pershimex will fluctuate in the right direction to convince Pershimex
shareholders to vote 66% in favor of the merger.
So expect Abcourt share price to increase by september or the share price of Pershimex to decrease enough to make the merger acceptable to Pershimex shareholders.
You don't have to worry about Abcourt shareholders because we were denied the voting right.
There could be a valid reason to deny Abcourt voting right to the merger but it was not explained to us.Maybe we are considered too stupid to think by ourself.
I as a long term shareholder of Abcourt have been denied the right to vote on the merger and now
we were not asked by management to accept 10-12% dilution at a depressed share price . When i participated in a PP 2 months earlier at 40-50% premium to today share price and when i asked to reviews the share price of the PP was never heard(my chk was changed before the closing of the PP and before the closing of the PP Mr Hamelin announced that Elder was closing.
My concerns in the past was that we had board of directors that had no money in the game.
A response from Mr Hamelin was that the PP in april had a 75% bod participation.
I was pleased to see that 75% was taken by bod and when all was finished , only 2 board of directors had participated Mr Renaud Hinse and Mr Mestrallet(that already had +- 40%of Abcourt.).
So the result was that we still had a majority of BOD that had no money invested in Abcourt and had
voting control of all Abcourt .
I thought that the board of directors were there to represent sharaholders .
They probably represent us but they have never asked what we wanted.
Can anybody suggest how we as shareholders can get control of the co.
Fernand