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Gold/Mining/Energy : Barramundi Gold
BAM 54.25-0.2%11:58 AM EST
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To: wtfigo who wrote (58)12/8/1999 5:21:00 PM
From: zebity   of 99
 
BAM management needs to provide a statement of direction.

Given the turmoil they have caused in the ousting of Bob Burban and the hasty extraordinary general meeting they
called to retrospectively ratify their actions, it is
clear that the current directors need to issue some
statement of what their intentions are with BAM and
some justification for how they acted.

I think that this will have to wait until the law suite
with Bob Burban is resolved or will be part of the information that will come out of the proceeds of this action.

The company is a public one and if the directors have
not acted in the best interest of the shareholders (and even
if they are a majority holder that must include themselves
as shareholders, as apposed to individuals who may make some
other gains from their actions) then they would could be
subject to a class action.
I doubt that they will make any statements unless forced to
do so, as they are currently treating the company as their
own privately held enterprise.
I do not think any of them as previously acted as a director of a publicily held company, which is why they
appear to be making so many extremely stupid desisions.

I think that to persue this you would need to get a significant group of BAM shareholders to counter sign your
petition and then send it directly to the directors.
I would be quite willing to be a signatory to this.
Cheers
Zebity
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