LCY 10.0% 1.1¢ legacy iron ore limited

Any cause for concern if so what can you do?

  1. 1,551 Posts.
    Judging by recent posts on H/C there seems to be some hostility towards management and the board, and IMO quite justified.
    I fear for the short term survival of this company and for the ongoing problems that may occur with the viability of Mt Bevan and the follow on
    problems it could cause Haw.
    If you are disillusioned by the tactics and lack of performance of management and the board, take a leaf out of their book and vote against
    the remuneration report at the upcoming AGM, if 25% of shareholders vote against the adoption of this report it could set in chain a series of events
    that could have serious implications for the stability of the board. The same strategy as your management and board adopted against Haw at
    their 2012 AGM when this tactic caused more than 25% of the vote was recorded against the motion.
    The result of this tactic meant that a strike was recorded against the Haw board of directors and if the same result happens 2 years in a row in means
    that there is an automatic spill of the board and results in new elections. This causes a serious headache for management and the board and they would be seriously embarrassed if this tactic was successful. Threats of this nature should make them sit up and take notice.
    It makes no sense to try to force and EGM when more than 50% of the vote is stacked against you, the method I proposed could be more successful.
 
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