Ann: Notice of Annual General Meeting/Proxy Form, page-9

First 9 Last

Share
Profile

Follow
Catalogue

793 Posts.

9

30/10/14

23:11

Post #: 14211820
Share

Originally posted by Cubism ↑

2.75B shares on issue and 2.04B unissued is unattractive to new and indeed current investors.
I am not opposed to the share consolidation and expect there will be another at a later date, nor am I opposed to the name change as Ord is certainly a tainted brand. I am however opposed to the timing of the brand change given its cost at a time when all spare cash should be spent on pre-production activities, including those that count towards the next $1M spend for a further 15%. The decision to change is warranted but the timing is commercially inept.
Notwithstanding all resolutions will undoubtedly be accepted by sufficient shareholders, I will vote "against" the issue of shares to Frank but vote "for" Bruce and Sean. Bruce seems to give a great deal to the company for little return and additional shares for his efforts are justified. Sean is new, give him time and some share incentive. Give Frank nothing; he earns $410k per annum and I believe his contribution and value is worth half of this. Secondly, why reward someone who has overseen the dilution of our shareholding whilst at the same time accepting no responsibility for a demise in the share price under his watch, from 3 cents down to .002 of a cent? That translates to a drop of some 14 times its value over the same period. A "no" vote can at least be registered and it will be announced during the AGM. The board needs to know we are paying attention and are dissatisfied.

Expand

Agree with what you say and would add that as the "financial report" is a special resolution and as such needs 75% of the cast votes to pass and this also sends a clear signal that SH are not happy.

VAN Price at posting: 0.2¢ Sentiment: None Disclosure: Not Held
3 Upvote

0 Great analysis

Reply

Top Stories

MIN

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

ACW

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

CXM

'Taking money from the market': Garbage giant cleans up as this week's Hot Stock tip

WC8

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

First 9 Last

Add VAN (ASX) to my watchlist

Ann: Notice of Annual General Meeting/Proxy Form, page-9

Top Stories

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

'Taking money from the market': Garbage giant cleans up as this week's Hot Stock tip

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects