lMY etter to the osc
in response to
by
posted on
Aug 19, 2008 12:54PM
The company whose shareholders were better than its management
Toronto August 19, 2008 Aurelian/Kinross The writer holds ARU share in his RSP; I previously wrote to the OSC requesting an urgent investigation into the proposed deal and issuance of shares ot K at a priviledge price. Due to public pressure, it appears ARU management decided to issue today a PR dealing primarily with exploraton/drilling results. Based on this new PR, it is evident now, ARU did not keep ALL their shareholders equally informed on regular basis as I understand is required by law. Also, it is evident that certain parties, notably Kinross, had access to priviledged and generally undisclosed information whilst the average shareholder is expected to make decision on the proposed takeover. To the average shareholder such action is blatantly unfair and causes financial damage. As ARU today issued drilling date, it is documented that additioan DD had been performed; yet ARU elected not to disclosed such data nor to comment. Undoubtedly, Kinross have access to such data. Specifically, drilling information is missing on DD holes including but not limited to" DD 207 - 209' 211, 214-216, 220-223; 228-229; 231, 233 DD 236 There is no news on regional drilling targets where saw work There is no information on airborne geophysics performed We have seen unreported insider sales by ARU board members that were retroactively filed; we continue to see selective and clearly biased release of drilling information today. As an individual shareholder, and to protect the investing public at large, and in order to maintain the Ontario Regulators credibility I like to urge you, again, to agressively investiage the action or inaction of the Aurelian/Kinross file; to act agressively and decisively on the blatant misconduct of both ARU Board and Kinross towards reversal of the entire proposed takeover deal including cancellation of shares issued to Kinross based on apparent manipulation of exploration results, valuations and share trading prices. It is evident there is a breach of fiduciary duties at the ARU Board; Kinross aided and abetted such action since early 2008; the combined actions are reprehensible and immoral. Does the OSC want to condone such action by remaing silent? We need and urgent cease and desist order to avoid repeat of legal manoeuvering like the public has witnessed in the Drabinsky case dating back now for more than a decade. The small shareholder would stand defenseless whilst the attorneys argue and issue their bills at our expense. For the sake of fairness to ALL, please do act. Sincerely |