TRA - Turners Automotive Group [previously TNR - Turners Limited]

[POSSUM THE CAT]

There should at least be motion asking Mr Graham to resign put to the meeting

[Lawso]

I sold out of DPC in 2006 at prices between 208 and 250cps. Am tempted to buy a few at around 20c just so I can enjoy the fun at the next agm. Bruce Sheppard, for one, will have plenty to say.

[Dr_Who]

Paul Anthony BYRNES continues to buy shares. He is up to 1.72m shares now.

Whats going on?

[Reihana]

Damned if I know; he's going to have to ride out a great deal more bad times in the finance sector if what I just heard is true, which is that at 4pm today Hanover will request a moratorium. They've been run through by Fortress, from what I hear.

[lewinsky]

Has anyone received the letter from the Shareholders Association aka Bruce Sheppard seeking an EGM to wind up Dorchester and remove Graham and Byrnes as directors?
I'd be interested in peoples views.

LEW.

[Dr_Who]

Has anyone received the letter from the Shareholders Association aka Bruce Sheppard seeking an EGM to wind up Dorchester and remove Graham and Byrnes as directors?
I'd be interested in peoples views.

LEW.

I ve received the letter. I would also like to have peoples view on it. It would be nice to have DPC director's response to the letter. If they dont respond, then I will vote for a liquidation.

Anyone have Brynes or Graham's email?

[POSSUM THE CAT]

Dr Who & Lewinsy: I have received the letter as above. Think that Graham should go either by expulsion or if he has any sense voluntarily. Byrnes I am very curious why Sheppard has singled him out from the other directors. As he has been buying Dorchester shares on market why? So he in my opinion has a lot to lose if the whole thing goes belly up. At times I question both Shepperd & Gaynors motives.

[Nitaa]

Dr Who & Lewinsy: I have received the letter as above. Think that Graham should go either by expulsion or if he has any sense voluntarily. Byrnes I am very curious why Sheppard has singled him out from the other directors. As he has been buying Dorchester shares on market why? So he in my opinion has a lot to lose if the whole thing goes belly up. At times I question both Shepperd & Gaynors motives.

1 thought i had is Brynes has more to gain in the long term by keeping Dorcestor going for another 12 months or 2 years through his salary package, entitlements, bonuses, golden handshake etc. He can say to investors, look at me, i am putting my money where my mouth is but in reality it could pale in comparison of what he can earn because of his position and salary package. Only a theory

I talked to an informant who bailed the company a few months ago when i saw the ship sinking. He said the writing was on the wall for some time. The same person was given the privilege (like the rest of dpc staff) of buying the stock for around $2.60 - $2.80 a few years ago at no interest. I am not sure if or when he sold.

[BlackPeter]

Dr Who & Lewinsy: I have received the letter as above. Think that Graham should go either by expulsion or if he has any sense voluntarily. Byrnes I am very curious why Sheppard has singled him out from the other directors. As he has been buying Dorchester shares on market why? So he in my opinion has a lot to lose if the whole thing goes belly up. At times I question both Shepperd & Gaynors motives.

I received the same letter and signed and returned it. At this stage is this just asking for a special General Meeting and putting three (I believe very valid) motions onto the agenda. Only if this meeting is called (and I think, it should be) can shareholders decide, whether they want to vote for or against any of the motions.

I haven't yet made up my mind on all of the proposed resolutions (and it will be interesting to see the response of the board), but I certainly think that
a) Graham is overdue for a push and
b) the question whether liquidation is the better option than allowing Byrnes and Co to slowly (or quickly?) burn the rest of the cash deserves a frank and open discussion.

[POSSUM THE CAT]

Black Peter received letter today from Mr Graham moaning about the waste of money on and everybody's time holding a special meeting. I assume everybody would be happy if he put those resolutions to the AGM. Except in my opinion Mr Graham. But if he will not I would be of the opinion he is not fit to be a board member let alone the Managing Director of any company