The Circular... The Vote...What to do??? To all:
By now, you probably have had "the Circular" in your possession starting about Mon. Feb. 20. And you might be wondering what to do or whether to do anything at all.
Well, the Vote must be RECEIVED by 10:00AM Central European Time Friday March 09 2012. So according to a handy dandy Time Converter, Central European Time (Austria) is EIGHT Hours AHEAD of Mountain Standard Time. So 5:00PM MST Wed.is 1:00AM CET Thurs So to be on the SAFE Side VOTE TODAY and no LATER than tomorrow (Thursday) Afternoon.
The general view seemed to be NOT to throw your Vote away by NOT voting. At least take this opportunity to express your view and show your support for the MINORITY Shareholder position VOTING AGAINST the PROPOSED motion.
There have been some interesting ideas kicked around and questions asked. ONE Question was just why did they decide to SPEND the $$$ and SEND out the Circular to REMOVE Wynne as a Director of CNS.. What are they trying to accomplish? Why didn't they just get him to RESIGN? Better yet…Why didn't Wynne just up and RESIGN?
Well, there are at least a couple of possibilities.
One - Perhaps they are trying to judge the Level of Interest in the company AND the level of support for Wynne. Shareholders of CNS are a fairly cranky lot and some hold some very responsible positions in the corporate world throughout the world.
Two - Perhaps this is designed to be a "honorable" exit strategy for Wynne. Some in Management and on the BOD just whimped out and crawled out the backdoor on their hands and knees hoping no one would notice. I seem to recall one who called in "sick" at the critical time. So maybe having used up this pretext, this particular strategy (I.e. to have him voted off the BOD) was designed to "run Wynne through" so that he could go down as having died the Corporate Death doing battle defending the rights of minor shareholders all in the "line of duty" AND as such be according burial with Full Military Honours and all of that. Sure beats the more cowardly route of waving the White Flag and just RESIGNING. I mean, "How lame is that!"
One thing is for sure, getting any information out of these guys is like getting blood out of a stone.
On the surface it sure would seem that there is some healthy adversarial acrimony on the BOD. BUT I happened to do some digging and ran into a company that lists on the "Grey Market" called "Blue Earth Refineries Inc. (BUERF:OTC Markets Group Inc.) . Now listed as people associated with this company are Michael J. Smith and his corporate people, James Carter, Slobodan Andjic, Jalena Djordjavic-Lausevic AND none other than Robert S. Wynne. I found a few other examples that were similar to this. It could just be that his being on the CNS BOD lumped him in with the rest of Smith’s kingdom.
Before I forget, another item was bandied about and I forget just who brought it up. It was the matter of just what assets did India and the DGH actually confiscate? Certainly the oil and gas assets were the prime target. BUT what about the pipelines, compression and processing facilities and other tangible surface facilities? What about the various contracts? What about the non-Amguri assets and the PSC on the Nagaland side? How much CASH was still in the company till?
As usual, there are still a lot of unanswered questions.
LB