IMU - any thought to this Q

[#1]

I tried emailing IMU with the following question but alas just gets returned saying - 5.1.0 - Unknown address error 550-'5.1.1 ... User unknown'... here is the question if anyone has any input?... on reading the stakeholder section of your website I have a question. it states the following... During 2005 a group of BEE entities agreed to acquire a combined 255 000 000 ordinary shares in Imuniti from the founder members. These shares are to be held in trust until certain conditions are met by the BEE shareholders including: obtaining letters of support from various Government departments and COSATU affiliated trade unions for the use of the Imuniti Pack as recorded in the Heads of Agreement entered into between the Founder members and the BEE partners; and introducing initiatives that result in the incremental unit sales of the Imuniti Pack increasing by 100 000 units per month within the first twelve operating months of the Company failing which, the shares will be returned to the founder members. my question is, since these BEE partners have not secured 100 000 packs per month in the first 12 month have the shares of these BEE partners reverted back to the founding members? if so who is left as BEE partners as it was these partners that gave me confidence in the potential future of the wellness packs? and If not why has the BEE agreement not been followed as per the statement on your website?

[#2]

I did spend 15 minutes typing out a long post on my views on IMU under its sharecode but thanks to sbks stable platform it just dissapeared after clicking post hence this under general and not share code...

[topgun]

Isn't this why Tembi Tambo (as representative of the BEE consortium) resigned from the board during December - acknowledgement that the BEE deal is not achieving its objectives? The best way to manage larger posts is to type them in ms-word and copy and paste across.

[#4]

Last time I checked the BEE partners were made up of COSATU, ANC womans league and members of the oliver tambo family... be interesting to know if this has changed? after all business in africa is not what you know but who you know...

[Preston]

Clearly the condition of BEE has a 2 vesting condition namely 1) an internal compliance condition ie..obtain letter etc 2. And an external condition ie...sale of 100000 pack If any of the condition is not satisfied , then it stands to reason that the BEE deal fall away.

[#6]

my thoughts exactly but at the same time it looks like the conditions could still come to fruition just taking longer than expected, so its in IMUs best interest to keep these guys on board if they have any hope of getting those nice fat government contracts which is not that likely to happen without the likes of COSATU and the ANC halping them along?

[CHATTYCHAT]

A little besides the point, but I have to refer to your "Last time I checked the BEE partners were made up of COSATU, ANC womans league and members of the oliver tambo family... be interesting to know if this has changed? after all business in africa is not what you know but who you know..." It's strange how these broad bodied organizations always come up as the BEE partners. My point: I wonder how the benefit/gain (and failures) get distributed to the members of these hig powered organizations? Anybody knows? I have enquired from members of Cosatu, by they know sh*t.