Tomato,
Your letter to Sophie is a good one. You are correct in observing that I have never posted to SI before this overreaching, unwarranted, and selfish grab into the cookie jar by WSP management, at shareholder expense.
I agree that getting a copy of the WSP by laws is a good idea. In a previous post you indicated this option revision was subject to regulatory approval. Could you provide the name, and better yet, an email address for the person or entity who must approve this?
Naturally, I would be interested to learn if any of us who called WSP about this hear back, as I would be interested in hearing their explanation. I'm considering writing to Bob Bishop about my concerns on this. I am a subscriber to his newsletter and did buy WSP in part on his recommendation. I think he understands and appreciates that if the juniors start pulling this stuff on investors in the post Bre-x environment, it will poison the well for the whole industry. One month you solicit private placement money in the mid 3 range, three months later you reduce the exercise price of existing 2.2million options by more than 50%. It's so mickey mouse its pathetic. If such practice were to spread in this environment, there might be nothing left credibility wise for the industry. My question about doing this is whether it would be constructive.
I have mixed feelings about any pr campaign in the media, as our ultimate purpose is protecting shareholder value, or whats left of it, along the lines we thought we were investing into when we put our money down in the first place. While such campaign might be what it takes for here, I see that as closer to a last resort type option. These are just my rambling thoughts at the moment. Thanks for your concern for your fellow WSP shareholders Tomato.
Larry |
