January 26, 2021.
By Paul Goldfinger, MD, Editor of Tropicanaforum.com
The Co-Op Board sent an email to shareholders this afternoon. It was sent by Clarice Campbell and she introduced the topic by saying,
“Please see attached offer from Murex. On behalf of the Board President”
The letter from Murex is undated. It contains a new offer which would give more cash to shareholders. Those of you who are shareholders can read that Murex letter for yourself.
We need to know the date that the Murex letter was written and when it was received by the Board. We need to know if the Board has been holding back on us.
This is important, because the presence of the new Murex offer was leaked on Facebook this morning, and one has to wonder if we would be seeing the Murex letter this afternoon if it weren’t for that leaked information.
It’s clear that Murex was irritated by the way that they were treated with respect to our last vote when they were sabotaged. But Murex decided to figure out a way to present another plan that would be more satisfying to the shareholders.
The Co-Op board and that lawyer did not prepare us for the possibility that Murex might come back with another offer. We don’t know who all the back room plotters are, but this process has been suspicious all along. After the very first Murex vote the President told me that it was all over and that there was nothing further to discuss. Why did he take that attitude?
The lack of transparency at the Board has been colossal and enhances the feeling that they can’t be trusted. The entire board should be removed and replaced by committed shareholders who support fairness in the process and who are supportive of the plan to sell the park. The investors need to trust those who represent them.
And they have to feel free to express themselves without being blocked from the Co-Op Facebook page.
Today’s Murex letter should have been accompanied by some explanation from our Board President as to the dynamics of what just happened and what the Board will do about it. An urgent meeting with shareholders is required to analyze the situation and make recommendations as to how to proceed.
The cat is out of the bag and cannot be ignored while waiting until Feb 9 where the ridiculous idea was to vote on whether to sell the park (again! ) That has already been decided.