RE:RE:RE:RE:Fancamp had an offer to PurchaseA question is, was an offer brought to the board for discussion and decision? Presumably the company minutes, if not altered in any way would determine this. If someone could get to the minutes, that would be good.
Did the offer damage the best interests of shareholders by declining it? If so, did it then compensate insiders for their best interests? The private placement of 60M shares looks like it did, given all the timing sequences. The fiduciary responsibility of the fancamp management and board is in question here.
The KWG /Magpie announcement was not only with Smith, also with Kamaleddine who is the other remaining holder of the special shares. Fancamp is only a large shareholder of Magpie but doesn't control the board. Fancamp is not happy about this.
I will have to re-read the nr of last July but believe it was a way forward for CCC to take control of Magpie and benefit the MANY rather than the few. But Fancamp put a stick in the spokes, basically saying anything that is good for shareholders doesn't work for them.
The other laughable part about Magpie and Fancamp is they shared the same law firm, Lavery. No conflict of interest here!