Sunday, March 27, 2011

Greystar Resources ( and the upcoming shareholders' revolt

Your author has heard on good authority that there are many unhappy shareholders of Greystar Resources ( out there in investment land. In fact they're so unhappy that on May 18th, at the company's Annual General Meeting, enough big shareholders of GSL have already agreed to pool their votes, take over the meeting from the floor and kick the current board of directors out of the company once and for all. Your humble scribe also hears that the unhappy holders have already got together more than 51% of the voting shares so get ready for the fireworks because this one is going to happen, folks.

And quite right too, considering the utter balls-up has made of its 15 years in Colombia and the mushroom politics it's employed to the people who pay them good money for zero results. Welcome to capitalism, Kesler. All that's left to consider is how this will play out. So will GSL;
  • Try to pretend the threat isn't serious and have a really bad day at the office May 18th?
  • Try to do the sneaky deaky and postpone the AGM?
  • Do something that may equate to honourable (even at this late stage) and resign en masse before the fateful day arrives?

Inquiring minds, etc. Anyway, remember where you heard it first, people. At your caring and sharing IKN.