Offor is a shareholder, just like you or I. Granted he has a truckload of shares, but he is a shareholder just the same. If ERHC sells JDZ assets it is ERHC's bank accounts that will get the cash, not any one shareholder. In fact, if Ntephe and the BOD chose to sell their JDZ block 3 interest, for example, there isn't anything you, I, or Emeka Offor could do to stop it. The sale of assets does not require shareholder approval, not even Offors. Management may find that they have to opperate with fewer fingers and toes going forward (LOL, and just kidding!), but they could sell the ranch and there's nothing we could do to stop it unless the sale price were so out of wack with true value that a suit could be filed to block the sale.
No matter what transaction(s) the company enters into Emeka Offor will not have access to any proceeds. He, like us, is dependent on the share price to gain from his investment.
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