PRG annual results approval 28.03.24Members in the German forum found the following PRG release
www1.hkexnews.hk/listedco/listconews/sehk/...024031300387.pdf approving the annual results of the Company... for the year ended 31 December 2023 considering the proposed profit distribution plan, if any.
Profits are transfered in regards to the ownership of the asset. Details are laid down in a so-called (or similar) "control agreement". The MGM of a public limited company cannot act contrary to the wishes of its shareholders. If there is a risk that the MAM could act against the interests of its shareholders, the shareholders must be consulted.
Theoretically, the majority shareholder could also implement measures to the detriment of the minority shareholders. The details of this should be regulated in the control agreement. There are also extensive regulations to protect the interests of minority shareholders.
The most likely scenario is that each owner will participate in the profits based on their share.
I see this as unproblematic for me. After 3 years of waiting, disappointment, incompetence and the transfer of assets to PRG, the 70% profit share to PRG is frankly too little for me and I would like to see a special payout to compensate for the transfer of assets and the 25% loss in the mine.
The most important thing. That MJS MGM finally communicates how we will profit from the success of the last 3 years, from the IPO and in the future from the success of the group. 3 1/2 months after the IPO and removal of all associated restrictions and there is still no statement. It is completely incomprehensible to me how this can be seen as justified, decent and good work by the MGM.
Greetings Richard