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I refer all ESI shareholders to my post dated 13/05/05 11.50a.m. and if you agree that we were not informed of the parlous state of the company's finances as they detiorated throughout 2004, as we should have been by the Directors, and that first notification came when we received the annual report, do you believe that the Australian Securities and Investment Commission should be involved in this debacle, by the Administrator. Also do you think the person who resigned two or three weeks, before we knew of the situation, with full entitlements had inside information of the situation which was not made available to shareholders. Did the Directors in many facets regarding this debacle, not carry out their duties as required under Corporate Law. What else did they not tell us about. When the company had been seemingly travelling well previously, 12 to 15 million dollars in the bank in previous annual reports, how could they get it so wrong so quickly. WHAT HAVE WE NOT BEEN TOLD. WHAT HAS BEEN COVERED UP. MANY QUESTIONS NEED TO BE ANSWERED. If you are in agreeance, please write IMMEDIATELY to the Administrator lodging your complaint as to how the Directors kept us in the dark and requesting that the Administrator request ASIC to become involved. I forwarded my letter about 5 days ago and I have been told a reply is being prepared at the moment.

 

 

Write to Mr. Bryan HUGHES

Pitcher Partners

P.O. Box 7191,

CLOISTERS SQUARE W.A. 6850

 

P.S. In a court case yesterday in the case concerning Sons of Gwalia the judge in his decision placed shareholders and creditors at the same level. Normally shareholders are on the bottom of the stack. Whils't his decision is going to be appealed, is this a precedent. Refer to business section, Sydney Morning Herald, 16/09/05

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Bunyip 2.

 

Thanks for your support. Please get your letters away "immediately" as time is short. In my letter I requested the Administrator to involve ASIC in this matter as it seems a bit "smelly." In your letters, let them know as I have, that you have had an absolute gutfull, as a shareholder, of being treated like XXXX and kept in the dark as the ESI directors have seemingly done to us. No matter what company we have shares in, if there is a problem, it is time for us to get off our backsides and stir the pot no end. If you feel strongly about this matter as I do, do not hold back, use strong words in your letters. We have to force the issue or the Liquidator will just sign it off, because there is no strong complaints. GO FOR IT FELLAS.

 

A few days after you post your letters, ring 08 9322 2022 to make sure they have been received, and ask to speak to the person handling the liquidation of ESI, and vent your feelings in no uncertain way about the behaviour of the Directors of our company. Also mention about the "strange way the gentleman left 3 weeks before we knew anything of the problems, with all his entitlements."

 

 

Thanks,

 

Techtrad.

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In reply to: techtrad on Friday 16/09/05 09:04pm

I posted on another forum for possibly three years or so, warning people of this exact outcome, I went to an agm once, the dirty dog mentioned here, looked back at me hostile like, like WTF are you doing here, sitting at my polished boardroom table ?, I saw the writing on the wall right then and there, the board absolutely did not expect such a large audience, which was mainly populated by all the suits due to ESI,s fabulous forward income statements, what I saw was enough, the sp was around 73cps at that time, then came the relevation that management had sold out at 87c, I eventually managed to exit my large position around 51c averaged.

 

So much for having a QC as chairman, and if you don't mind, was head of the anti corruption commission too.

 

AAARRRGGHHHHHH !!!!

 

Denis should have been put away for years,, but the WA branch of the Catholic secret society, ensured he retired in comfort.

 

I also must say, the loss of his daughter , was a tragedy, I don,t think I could recover from such an event either, but he continued to hide the truth that he misquoted contracts on a large enough scale to sink the company completely, the question is, why did the rest of the board let this continue, when it was apparent Denis wasn,t able to continue his duties in sound mind?

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To all ESI shareholders. If you receive a letter from a company called AFSG (Australian Finance and Securities Group P/L) wanting to buy your shares for 1/2 a cent each, and wanting YOU to send them a cheque for $165 dollars for doing so, I STRONGLY ADVISE YOU TO SEEK INDEPENDENT ADVISE FROM YOUR STOCKBROKER OR ACCOUNTANT OR RING THE COMPANY HANDLING THE ADMINISTRATION OF ESI. I.E. PITCHER PARTNERS IN PERTH, ON 08 9322 2022. YOU MAY BE PLEASANTLY SURPRISED WITH THE INFORMATION YOU RECEIVE.

 

What have I done with my letter from AFSG. I have put it in the garbage where it belongs, as all they want to do is to get their filthy grubby hands on as many shares as they can, so that if the company comes back on to the stock market boards as is a possibility, they will be laughing all the way to the bank, and will have all those $165 dollar fees as well.

 

To shareholders who know how to post this message on other boards, please spread the word in order to lock these grubs at "AFSG OUT."

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How bout this. If it is one of those blatant scams and comes with a reply paid envelope, wrap a brick or something smallish but really heavy in paper, stick the reply paid envelope to the front, take it to the post office and send it. It will cost you nothing. They have to pay the substantial postage at the other end. If everyone did it...Ha ha ha ha ha ha!
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To all shareholders who received the scumbag letter from the company calling themselves AFSG (Australian Finance and Securities Group P/L offering you 1/2 a cent for each of your ESI shares, do not fall for their outrageous offer, and where possible download a complaint form from the Australian Securities and Investment Commission website www.asic.gov.au then complete it, and then forward it with the letter you received from AFSG to this address:-

 

ASIC Complaints,

Australian Securities and Investment Commission,

P.O. Box 9149

TRARALGON, Vic. 3844

 

If you are not in a possesion of a computer and therefore cannot download the ASIC form, just write a letter of complaint about the outrageous behaviour of AFSG, and forward your complaint and their letter to the abovementioned address.

 

ACT, AS REQUESTED ABOVE, AS QUICKLY AS POSSIBLE.

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Report> Unsatisfactory discussion with Pitcher & Partners this morning. Reluctantly advised that a Creditors meeting will be held this Friday (Finally) That a proposal to restructure Co willbe made to meeting ie efectively sell Co. shell. If motions put are agreed to by Creditors meeting then a Shareholders meeting will then be called as soon as possible after for Proposals to be put to us for aproval. They have NOT lodged any report to ASIC or any other Govt supervisory body. To get this in formation was like squezzing blood out of a stone & I suggest all ESI shareholders continue to chase them up on 08 93222022. Good Luck I suspect we will all need some. w > b. http://www.sharescene.com/html/emoticons/grrr.gif
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In reply to: techtrad on Wednesday 28/09/05 08:05pm

http://www.sharescene.com/html/emoticons/devilsmiley.gif Rang David @ Pitcher & Partners this morning to find out what happened at last Fridays Creditors meeting but was told he was on holidays & no one else could tell me anything. Anyone else with any news?? w > b.

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