SmartLogik Action Group

Letter from a shareholder

January 31st, 2009

Date: Mon, 26 Jan 2009 08:40:58 -0000
Subject: Re: SmartLogikAction….Stonewalled..? *** We need some action ****

Hi Justin, all…
Thanks for your note….which is a familiar tale for many action groups.
Take a look at Leon Kaye website….eg, Rage PLC …rated as strong case…blocked due to `lack of funding to progress case….just one example.

Some points….
Justin…what do you want/hope to achieve with your Blog…..?
Why are so few shareholders commenting here….?
Have we no influencial people on board, who might have a voice in the right places….or other contacts who might help….senior Press contacts at The Telegraph or Times, etc…
Could we `infiltrate/investigate` E & Y…get behind the mask…maybe some smart investigative journalist……who could point the spotlight at the secret protectionist operations going on, that cover up the skullduggery…?
Also, maybe an investigative journalist, with contacts could ask questions as to how APR have done so well since grabbing Smartlogics assets….?
Has anyone looked closely at the accounts of APR and questioned why they have had the significant upturn in fortunes since aquiring Smart Logics assets.
Werent there a range of other serious concerns, not least, that Smartlogic gave assurances of significant contacts in the pipeline, that seemed to vanish into thin air….did any of these then `resurface` on the APR books at some later date. Can we get some investigative journalist to take a look at the activities of this APR business…ask some awkward questions..?
Was there not also questions about where all the money went, in the months prior to Smartlogics demise….and more.
There was a programme on radio last week about the current Administration processes, and there obvious deficiences (last Thursday or Friday night, I believe…did anyone else see this..?)…. probably radio 4… could we not contact the programme and raise our concerns with them…see if they can help…maybe they might be prepared to probe matters…put the spotlight on what is going on…..do another programme..? It strikes me that one of the few options available these days is to get the media to expose the flaws and embarrass Gordon and his cronnies into `changing things`….

Costs of fighting action…….. could we as a group raise more funds….. I guess one question might be…what we potentially stand to get back…have you any feel for the sort of claims that might be possible…noting that success would include legal costs.. Another question is who we would claim against, and the ability of that party to pay up….??
Also, could we not raise this with David Cameron and his team….give them an excuse to attack the Labour Gov, with questions in `the house`…or questions fired at the FSA, other Gov officials…..questioning the integrity of the process. Can we challenge the `public interest` question, re information disclosure. Is it not important that shareholders receive fair treatment…? Is it not important that companies are obligated to be honest with shareholders/stakeholders, and genuinely act in shareholders best interests.
Is it not important that shareholder confidence is maintained, and credibility is maintained, and that the processes are not seen as `flawed and debased` at a time that market confidence is low, and the Gov tells people that they should take a stake in UK PLC… How can Govs take this stance, exposing investors to the risks of dealing with these rogue businesses, that appear to be able to get away with blue murder….how can that be serving public interest…. and what about serving the interests of common justice….prefereably with a process that is accessable to all, where justice is not priced out of the window.

Put these questions to DC, GB, UK Shareholders Ass, FSA, Senoir Press, etc….. lets see if we can really achieve your objective of getting some justice….
It is totally wrong that shareholders can be stonewalled like this, and the truth concielled, by a bunch of rogues.
You know I`ve raised things with UK Shareholders Ass….they are running up against similar brick walls…talk to them again about how these brick walls can be penetrated……
Maybe, just maybe, we can apply presure in the right places and get change.
One area I`d like to see `change` is in the area of `Creditor meetings`…..I believe that the law should allow shareholders unfettered access to creditor meetings, to be able to put substantive and material concerns at such meetings, and be legally entitled to substantive answers.
Where such matters are not dealt with satisfactorily, it such be possible to have these matters independantly investigated, with published findings, accessable to those with legitimate interestes.
Maybe you could give this some airing on the Smartlogic Website…..

I hope that, we as a body of shareholders can press these matters further, and find ways to publicise these issues…high profile….+ press action from our Politicians.

Best Wishes,
Dave

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