mim/xta manipulated

  1. 1,087 Posts.
    Well finally mim goes into a trading halt as from this arvo.

    I read with interest that recent new shareholders will be thoughly scrutinised to see if there was any propping up of shareholder numbers by either party for the vote tomorrow.

    It seems to me that asic has totally failed in it`s duty to genuine mim shareholders.

    For shareholders who have held mim for a period of time and have risked their money in the stock, the outcome of tomorrows meeting has a high probability of being a manufactured result.

    I fail to understand why asic or mim did not rule a cut off date for shareholders, say those holding 2 weeks ago only had the right to vote or in fact why mim was not placed in a trading halt pending the vote weeks ago.

    We have the rivkin case just recently where rivkin was convicted and faces jail time for a few hundred dollars (no shareholders hurt) and yet asic lets mim continue trading all this time and if the rumours of share spliting are true or brokers for and against the deal adviseing client to buy $500 worth so they could vote, then some medium term shareholders may lose hundreds of thousands of dollars if the engineered vote rejects the deal tomorrow/ or lose future growth in mim share price if deal is accepted and asic condones this.

    In todays Australian Gotleibson explained how xtrata gains immediately 1.5 billion dollars through tax accounting if they are sucessfull.
    How many shareholders would have changed the way they voted if this info had of been available before the vote cut off date.

    The directors of mim who recommended the deal have totally failed in their duty to create maximum wealth for their shareholders as they should do, this is not surprising though as they have always been a bunch of gunna type people and have at most times failed.

    MIM has lost approximately over 1 billion dollars in hedgeing under this incompetent board.

    Gaucci appears to be the only intelligent person out of the lot of them.

    We may have seen the last of or we may not have seen the last of mim but no matter which way the vote goes tomorrow the way in which genuine mim shareholders have been allowed to be manipulated over the last few weeks is an injustice and asic should hang it`s head in shame.

    Good Luck and hope it turns out the way u want.

    cheers dave
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