I know there are some angry EQU shareholders on this board. I hope you are emailing EQU's management and board with your displeasure over their mismanagement causing EQU's share price to keep dropping while they get their over generous paychecks.
I have done both emails and reqular mail and get zero replies..They have entered a fortress mode. Well my answer to that is if there are no alternative which might really close the gap between share price and asset value per share or the addition of really independent directors to my voting choices...."Just Say NO" to anything and anyone they propose. I recommend as a single shareholder that all other shareholders who want to see a change just vote "no" to anything that further entrenches the current cabal of self serving
management. The legal attack on the largest single share holder was an act of despiration that sends all of us a clear SCREAMING message that these guys are out for ONLY themselves. The more rational and practical approach would have been to invite negotiation and compromise for those wishing a greater voice in the company's restoration of share valuation. I also believe a large numbe of NO votes alerts any potential buyer of Equal that there would be a large number of supportive disatisfied share owners.
At first Nawar and company thought that they had the ear of the board and CEO. It was only after the review was published in Nov. that they tried to talk some sence into the board and got hit with the law suit. I still say that when the board comes up to reelect CEO,CFO, and the board we make our ballots for someone other than what we have at present.
I emailed them again and the response I got inferred stongly they were close to closing an acquisition. There is not much anyone can do to stop this. By the time the annual meeting happens I suspect they will have dimenished the cash position and credit to the point not much could be done to unravel the mess. I was advocating for the activist to place on the ballot a slate of new independent directors prior to the initiation of the review. It was intimated that they had enough support to make changes. I know i voted against all of them. So why did we not get any changes at the last meeting? All they did was agree to start a review. behind closed doors. No one really had access to the process. I know when the major activist go to work they first put their directors in to sheppard their agenda. You do not let the wolves direct the process and expect change.
I have had a chuckle from Adams videos but humor/ satire or theater of the absurd will not deter these guys. They would have to put up some serious legal tender with no guarantees. I believe they will be able to burn the ship before the pirates can board. We might all go down with this ship... except they will have golden parachutes and bloated salaries to cushion their fall.
This has become a broken record. I (we) have sent in countless emails to management only to have the share price sink. I am sure they are hitting our ignore button without thought. Why would'nt they? In fact I see they are starting to accumulate some shares themselves. I do not see any hope for this to go anywhere. I would rather bet on them to continue to collect nice salaries and even some cheaper stock rather than the activist initiative becominng successful. They had the same chance last year at the stock holders meeting and they folded.
Why do you say the activists "folded" last year? At that point management had just started the strategic review, which was exactly what we were calling on them to do. Unfortunately they concluded the review in a shockingly self-serving and shareholder unfriendly fashion, which is why the stock is where it's at today, and that's why we were forced to restart our campaign to protect shareholder rights. If you believe we've "folded" then you're going to figure out in the not-so-distant future that you're mistaken...