Ann: Resignation of Directors, page-30

Sorry OM, I will have to disagree with you, TH only made one comment, having a go at the Chairman about spending an hour and twenty minutes with a share holder whose holding of 400 shares, believing it was a waste of time to spend so much time with such a small shareholder.  I know the response from the Chairman was shock that someone would stand up in a meeting to make such a comment and I know that the people in my area did not agree with TH with comments suggesting that TH just wasted their time with such a silly comment. 

All shareholders matter, a shareholder is a shareholder no matter how many shares they hold, particularly when the vote is a percentage of shareholders not shares held.  Also, don't forget that if a majority of small shareholders rally together because they feel they are not being treated fairly have more voting power than major shareholders. I do recall a recent takeover attempt being rejected because a large number of shareholders decided to rally together to vote down the takeover.  Just to jog your memory TH was not on the side to prevent the takeover, he put his large shareholding on the side wanting to sell.

I thought it was pleasing to hear that all shareholders mattered to the Chairman, I do not want a board or exec who only spend their time romancing large shareholders or worse ignoring all shareholders.