Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Magnus Energy- shareholder activism
23-10-2019, 12:44 AM.
Post: #1
Magnus Energy- shareholder activism
Dear Shareholder of Magnus Energy,

This is a call for shareholder activism! 
WE NEED YOUR VOTE AT THIS YEARS AGM TO OUST THE CURRENT CEO AND BOARD!
I and other substantial shareholders plead for your support. We must make the numbers.

As you know, Magnus Energy has been suspended and we are all stuck holding their shares.
There has been a an external review by Provenance Capital, which shows the clear lack of understanding and poor decision making of the CEO and directors of Magnus.
They made deals that did not make sense and in all cases loss us money.
There are also steps put in place by lawyers of substantial shareholders that aim to make all directors personally liable for the mismanagement of Magus.

https://links.sgx.com/FileOpen/1.%20PCPL...eID=575836

If you still hold shares and want to see the suspension lifted and help in a bid to help the substantial shareholders takeover the company and turn it around please vote at this year AGM on 30/10/19 at 10am at York Hotel.

If you are unable to make it I will be glad to act as your proxy. 

Please call me at 96227548 and we can make the arrangements.

Sincerely,

Rayner Madhavan

Find Reply
26-10-2019, 11:41 AM.
Post: #2
RE: Magnus Energy- shareholder activism
Dear Magnus Shareholders,

The important AGM is coming up on the 30th Oct 2019 at 10am at the York Hotel.

Pls look out for an ad in the Straits Times and Business Times on Tuesday calling all shareholders to the AGM. 

Thank you for the support of all who have contacted me so far.

Find Reply
30-10-2019, 01:20 PM.
Post: #3
RE: Magnus Energy- shareholder activism
Update:
Dear Magnus Shareholders, we have voted out all the directors that stood re-election at this agm. Next we will convene an EGM to remove CEO Luke Ho and remaining director Seet Choor Hoon as well as carry on our lawsuit against them to make them personally liable to us for all the money they have lost.
Importantly, this shows that collectively, Shareholders form a powerful force and should not be taken advantage of.
I hope more shareholders will be inspired to right wrongs that have been done to them by CEOs and Directors of other companies.
Big thank you to Mr Charles Madhavan and Mr Ong Chin Yew for spearheading this process.

Find Reply


Forum Jump:


Users browsing this thread: 1 Guest(s)
Valuebuddies.com | Return to Top | Lite (Archive) Mode | RSS Syndication | CONTACT US: nas......@valuebuddies.com | | Share Buy-Back | Disclosure of Interest