London Asia Capital Share Discussion Threads

[dougcsv] 30/1/2011 14:01

Still we should be cautious; show restraint and not give any reason for these threads to be shut down - We don't need this to turn into another LGB.
Calling these folk names isn't going to help. The official channels will be better if used correctly and appropriate pressure brought to bear.

[dougcsv] 29/1/2011 20:46

The board is deadlocked because of him. It seems that anything DB & TP want to do will be blocked by Gardin - Quite what his game is I don't know - there are a number of possibilities - none of which appear to be in the best interest of most of the shareholders. I guess you could vote the company wat for all but that particular point but it's prob not worth the possible confusion.

[blackmonday] 29/1/2011 20:39

I have just got an online voting request from my broker. I am not sure how to vote for Professor Gardin? - If he really has changed allegiances then should I perhaps vote For the resolution to remove him as a director. As the votes seem to be close this could make a difference. Any thoughts?

[loverat] 29/1/2011 13:03

Nice one dougcsv.

I think shareholders here and elsewhere are doing the right kind of thing to bring this to the press. The FSA is obviously not up to the job and I doubt whether its replacement will be either.

I know the FSA is obsessed about bad publicity, however. So, the more press articles which are published into wrongdoing the better.

[dougcsv] 29/1/2011 12:28

Link to todays Financial Times article....

[dougcsv] 27/1/2011 08:55

blackmonday, that is the trouble they do not have a majority they are locked.

[blackmonday] 26/1/2011 21:32

Don't forget this is a high stakes game on both sides. If the requisitioners lose, and it seems close, then Mr Sha would be removed as a director and their access to information would be reduced to that of normal, external shareholders, like most of us.

They could still call EGM's to try to change the board again but they would have less information.

I can't think of any way the board could prevent another vote but they could in the meantime do various things, like pay back some surplus cash to shareholders. In fact they could probably do that now as it would only take a majority vote of directors.

[dougcsv] 26/1/2011 11:36

hashertu, you might be right, but why would he effectively vote himself out of a job ? - That's what his actions at the moment will do.

[hashertu] 26/1/2011 10:18

I personally do not believe that Professor Gardin has sided with, or has any arrangement with, Richpoint.

There appears to be some personality clash between members of the board.

Parker/Bailey (and Negal) passionately oppose Richpoint's aspirations.

Richpoint's preference for Gardin is, IMO, an example of "my enemies' enemy must be my friend".

[dougcsv] 26/1/2011 08:52

Gatehill, to answer your question 'What will small shareholeders get ir the requisition is passed?' The short answer is probably nothing esp since Richpoint haven't offered up any firm ideas about what they intend to do.

[loverat] 26/1/2011 06:35

And another good reason to vote with the management.

The shareholders have the moral high ground in that they are the victims of one of the most pernicious and deliberate frauds to be recorded since Langbar.

Leave Justice to the Judiciary and the Courts.


"We also suspect that an additional reason for Richpoint calling the present EGM to remove your Directors, except Mr Sha, is the desire to terminate the litigation the Board has commenced against Mr Littlewood, Mr Ng and his son in law and associates"

[loverat] 26/1/2011 05:58

An article (dated 24/1/11) which I don't think has been posted about the attempt to oust the board. Seems to highlight the murky and conflicted world of Chen and co.

[gatehill] 25/1/2011 23:13

I am a very small shareholder (via Barclays) and have read the documents sent out. I voted as per the Directors' recommendations. There's clearly a lot going on since I cannot understand why anyone would vote for the requisition. What will small shareholeders get ir the requisition is passed?

When the "second" pack of papers arrived after Xmas I emailed Dennis Bailey asking if I should vote again and he replied, almost by return, saying no, he had received my first vote and that there was a lot to do to squash the proposal.

[morro] 25/1/2011 22:50

I have said it on here already that from the behaviour of Chen there could well be some real value in this company. We have been told that Gardin might not own any shares in the company. Well I might consider an offer at 50 pence a share!!!!

[morro] 25/1/2011 22:46

I think Gardin should publically state his position to shareholders and the reasons he is taking such a position. As things stand he looks a good candidate to be on Loverats list. As well as what Dougcsv has said about his position in light of Keigh Negal's work, is it justifiable to join Richpoint if what we have heard concerning the alleged threat to the Earl of Cromer.

[dougcsv] 25/1/2011 20:11

hashertu, That is a very good point. It is clear that Gardin is NOT sitting on the sidelines. We cn also be pretty sure that Keith Negal, were he fit and well, would not be siding with Richpoint after all the work he has put in. In my opinion it is an absolute disgrace that Gardin is taking advantage of Mr Negals' poor health.

[hashertu] 25/1/2011 19:35

One last thought for the evening.

There are 600,000 votes that have been given to the chairman for him to cast at his discretion.

We do not know who the chairman will be. However, the only person that is acceptable to Richpoint is Professor Gardin (other than Mr Sha). He would be fair and reasonable in his own view of the world, but I would not like to predict what that is.

If you have a view on how to vote on these resolutions and have previously assigned your vote to the chairman for him to use at his discretion, then I suggest that you change your vote to suit.

It might just avoid an unintentioned outcome.

[zorija] 25/1/2011 18:13

Just received a call from Dennis Bailey - told him to look at this thread...
ZZZ

[dougcsv] 25/1/2011 17:48

Morro, My understanding is that the vote would only go against Richpoint IF the 10m are NOT counted. However if it is discovered that those 10m are effectively controlled by Richpoint then they could be considered as acting in concert and as such would be obliged to make an offer for the company as far as I understand the rules. That might be very handy indeed as the directors would need to give it to the takeover commission to review - and they just might dig into the whole seedy affair.
I find it hard to believe that Gardin has no votes/shares or at least a controlling interest in some......must check that.

[morro] 25/1/2011 16:58

Not totally sure why there would be a need for another meeting if the vote went against Richpoint even with the 10 million uncounted votes. Just more unnecessary cost.

If Chen did make those remarks he is probably treading a very thin line and no doubt Beijing knows where he lives!!!