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Msg  1510 of 10055  at  8/2/2007 9:27:27 AM  by

BensonAnalyst

My suggested list of remedies now includes RESIGNATIONS from the Board


My latest research suggests (does not prove) a major beach of Ethics, and probably a breach of TSX Exchange rules, in the manipulation of the Shareholder Rights plan. 

 

The following is my opinion only.  I am not clearing this with the CRSA, but they have been behind 98% of my proposals.  I am asking for them to comment here if they agree.

 

I believe that hen Campbell Board of Directors needs to do the following in order to remedy this situation:

 

1) Obtain the immediate resignations of Mr. Holmes and Mr. Galipeau from the Campbell Board of Directors. 

 

The remedy that we have been discussing in the CRSA is that "the two Board Members from Nuinsco shall recuse themselves from all future discussion and Board votes, where exact remuneration (transfer of share capital) to Nuinsco is discussed.”

 

At this point, I don’t believe that is sufficient.  I now want resignations, and I am asking other people here is they agree.

 

2) The approximately 30 million shares + 15 million warrants obtained by the Clients of Sprott Securities (through the mechanism of renegotiating the October 2006 Rights plan) shall be retuned to the original common shareholders of Campbell Resources.  These shares were very likely obtained in a deliberate manipulation of TSX rules.

 

3) Renegotiate the terms of the $4 million Debenture financing announced last week.  We have documented why we believe the terms are basically a “give-way” of equity to Nuinsco.

 

4) Implement a Shareholder Rights plan immediately

 

5) The Board is encouraged to provide some idea as to when Mr.  Fortier will be retiring.  He is near retirement age.

 

6) Accept the proposal of the CRSA to invite a member of the CRSA onto the Board of Directors.

 

The Campbell Board of Directors needs to take immediate steps to demonstrate that they are operating under the same goals (increasing value for Campbell’s shareholders exclusively) and the Code of Conduct, documented in their filings.  They have certified their filings under the Sarbanes Oxley act.

 



 
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Msg # Subject Author Recs Date Posted
1513 Re: My suggested list of remedies now includes RESIGNATIONS from the Board cv14 8/2/2007 10:35:35 AM
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