Do we all think that todays outcomes will make some of the papers, Im expecting a write up by some of the more investigative scribes .
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Do we all think that todays outcomes will make some of the papers, Im expecting a write up by some of the more investigative scribes .
Is you kidding ? .. it's the dilution thereafter followed by the act of lose the 'under Marketable Parcels' hatchet jobs that are more of a worry ;)
Where's the Special Offer from NTL to those with less than a Marketable Parcel (ie AU $500) to keep all those holders
or as many as possible being offered opportunity to stay onboard - @ 0.2 of a Cent to top holdings up ? ;)
FAIR is FAIR - for many of those small holders - NTL have systematically attempted to gut their wallets
then on Company dilution/consolidation corporate action the final dirty deed delivered from NTL appears to be
to reduce them further finally kicking them in the guts .. ;)
Some will remember Ascension Capital (formerly TRS) an in-specie float out of HGL Shareholder base
- and that company has to date not even stooped as low as NTL has to kick out those with just a few shares left now ;)
The float out was probably sometime before the wombat crew flew in onto HGL/NTL Board table ;)
And there it is on NZH:
(behind the paywall)
https://www.nzherald.co.nz/business/...X4SSS26XGZM3A/
Very very interesting reading :)
A very resounding non-binding Vote against Chair & CEO ;)
Congrats to Jonu. He is in.
Thank you Vince.
Well done Jonu
Well done Vince
Well done Oliver & NZSA
:t_up:
Well done everyone - lets hope that the hole in the side of this ship can be repaired before it sinks.
Have to admit, I finally tempted to dip my toe back in, but will wait for the fall-out of meeting
Even I might be tempted if Hill is gone but I have a feeling the rot has already set in and there's no stopping it. I'm afraid Jonu might not like what he sees once he starts getting some real info
I can’t think of any occasion before where there has been anywhere near this level of criticism of members of a board. A first for NTL. It was good to hear some questions from Mr Brown
Jonu has a huge task ahead of him. I think I recall Hill saying that it will take a further $12M or so to bring the mine to production and if that is the figure now it is more than likely (based on previous experience with NTL)to be more than that with no gaurentee of success.
From my point of view this is a bridge to far and it makes no sense to pour more money into this company.
I note Kelly Wyse LinkedIn profile is yet to be updated...
Director
Company NameNew Talisman Gold Mines Ltd
Dates EmployedSep 2021 – Present
Employment Duration1 mo
LocationNew Zealand
https://www.linkedin.com/in/kelly-wy...alSubdomain=au
As an accountant myself, she just never stacked up having only moved from being AR manager to an accountants role 7 years ago - just a baby.
I'll admit to dipping into some of my rights last night & spent some $11 odd dollars to bring my shareholding up to a level that it will end with four zeros. That makes the likelihood of losing any shares post consolidation due to rounding less likely. Big brain stuff right there. lol
I'm not fusses whether my 5715 new shares will gain the additional loyalty shares in the future.
This is the press release sent out yesterday by the NZSA. (my highlight in red ;))
SHAREHOLDER ACTIVISM MAKES A DIFFERENCE AT NEW TALISMAN GOLD MINES
September29th 2021
The NZ Shareholders Association (NZSA) is satisfied with the outcome of today’s shareholder votes in relation to New Talisman Gold Mines (NZX: NTL).
NZSA has supported retail shareholders to ensure that their concerns are heard by the NTL Board and to advocate for governance improvement – as we do for any listed company.
For New Talisman Gold Mines, NZSA supported the election of John Upperton, a concerned shareholder of NTL, to the Board, as well as opposing recent board appointee Kelly Wyse.
Additionally, two non-binding resolutions were tabled at the meeting calling for the immediate resignation from the Board of both the current Chair, Charbel Nader and Matthew Hill, who is also the CEO of the company. NZSA voted in favour of these resolutions.
The vote of shareholders at todays meeting supported the positions adopted by NZSA with regard to the resolutions.
“The outcome of today’s vote at New Talisman Gold Mines shows that the voices of retail investors remaining important for any listed entity, and that concerns raised by shareholders should carry weight with New Zealand’s corporate leadership”, says Oliver Mander, NZSA Chief Executive. “We’re looking forward to a change in approach by NTL, in terms of both its current strategy and its relationship with shareholders”.
“While the results of the resolutions calling for the removal of Charbel Nader and Matthew Hill from the Board are non-binding, NZSA would ask both individuals to consider the wishes of shareholders.”
To support shareholder advocacy, NZSA offers a free proxy service that allows retail shareholder votes to be counted. Contact teresa@nzshareholders.co.nz for further information on this service and the registration process.
ENDS
About NZ Shareholders Association
Since its formation in2001, the NZSA mission is to represent, promote and protect the interests of investors in shares and other investment products. We aim to promote and encourage an active, efficient, fair and transparent market for raising capital, trading shares and other investment products.
For further information or comment, please contact Oliver Mander (CEO) on 021 190-5343 or at ceo@nzshareholders.co.nz.