Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : Asia Sapphires Ltd.(APL) -- Ignore unavailable to you. Want to Upgrade?

To: S.Carmichael who wrote (8)	6/30/1999 11:58:00 AM
From: S.Carmichael	Read Replies (1) \| Respond to of 11

I see that there is a cease trade order against Bjarne Jeppesen (President and CEO) and his wife Julie Bruns (Director), and their private company Gem Mining Concessions. for not filing Insider Reports. This must relate to the claim, made in the Information Circular dated 26th March 1999, to own 5,750,000 shares. A check on the relevant Insider filings reveals that their latest filing is for 2,787,500 shares in Gem Mining Concessions, a figure which has not changed since the placing. I spoke with one of the "dissident" shareholders recently, and he revealed that it was this claim to extra shares, which were due to vote against the existing management, that allowed Bjarne Jeppesen to defeat the dissident shareholders at the AGM, and thus save his job. I was also told that Bjarne Jeppesen applied for and got a temporary injunction against the holder of the disputed block after the AGM, but that when the case for keeping the injunction in place was heard, Bjarne Jeppesen lost the case and the injunction was lifted. This would appear to indicate that as far as the judge is concerned, the shares in question do not belong to Bjarne Jeppesen, his wife, or their private company. This begs a some interesting questions. By what right did Bjarne Jeppesen disallow these shares from voting against him? By what right did Bjarne Jeppesen claim these shares as his to vote? Where were the lawyers while this was going on? Does this invalidate the decisions passed at the AGM? I have now got my hands on some of the original work done on prior to the placing, and some of it makes interesting reading. There is a pattern emerging that is concerning.