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caketin

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09/05/18

11:18

Post #: 32977930
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Originally posted by Michael27 ↑

Hi Razzle7,

There are restrictions which are against the constitution for me to dislose.

What I would keep persisting (as am I) is to keep emailing NXR for updates and a reminder of ASX full disclosure rules.

Even though you might get no response, your request is a record from a shareholder who has a right to be informed of any changes which could affect the value of their investment.

In regard to my reasoning the three NXR shareholders who took the positions of directors of WBT. I understand and appreciate the sentiment to gain an insight into the goings on within the company, but there are certain criteria required to be a director of a company. The three NXR directors did not meet that criteria.

A board should have directors with experience in the industry of the company, the skills to manage the company according to the company constitution and corporations act, contacts within the industry, sources for raising funds and answering shareholders requests within guidelines as set out in the corporations act.

A member of the NXR alliance, a Wavefront rep and an independent well versed and experienced in technology/Biometric current trends and directorships would have achieved progress in a more timely manner.

When you employ three directors with none of the above, the cost is time and money from sourcing advice and educating the directors.

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This was my concern at the time, and that they would get dutchessed unless they had incredible expertise in digging for facts despite an organised opposition. It is of course possible that they discovered it was a grand pile of dung and gave up straight away before legal action set in. You were at the AGM with me Micheal and would have noticed the retiring board members looked guilty as sin.

NXR Price at posting: 2.0¢ Sentiment: None Disclosure: Held
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Who wants to start a class action going..., page-91

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