The next step in the legal process would continue to cost the Company and the concerned shareholders considerable amounts of time and money. The concerned shareholders have decided not to pursue legal action against the Company given the time that it would take to bring this matter to conclusion and the additional expenses that would be incurred by all. In doing so, the concerned shareholders make it clear that they do not accept the chairman's declaration on the outcome of the Meeting and are convinced that had there been an independent chairman and had the votes been properly tabulated, the concerned shareholders would have been successful. The concerned shareholders will continue to press for minority rights in Mundoro and will take whatever steps are reasonable to ensure the accountability of Management to its shareholders.
The concerned shareholders would like to take this opportunity to thank the majority of Mundoro shareholders who supported our position for shareholders rights; it is unfortunate this majority view was thwarted by what appears to be an incorrect vote count!
SOURCE Mundoro Capital Inc.