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clock Created with Sketch. 13/04/16
14:58
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Originally posted by iona
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Have also spoken to someone who was at the meeting. Loaner007 - you have been seriously misled. There was extended opportunities for questions and discussion, and the 'sophies' overwhelmingly voted for all resolutions with the positive proxies (as disclosed to the ASX) and discretionary vote overwhelmingly in favour. Also, it was made clear the management were not taking payment and the directors fees were either not being made, or per the resolutions being taken in arrears as shares (with a reference price well above market). Further the Lind situation was simply explained and clarified in answer to questions and the bottom line there is they have not as yet converted into shares and any conversion depends on VWAP shareprices and so any lift in the shareprice will limit the number of shares they get. It did not help that certain parties (perhaps the 'sophie' you talked to) sold on the market last week for half the prevailing price - damaging all shareholders interests when underlying asset value should be better reflected and the shareprice be much higher, particularly as world oil prices are now going up.
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If l was "misled" l correct myself, however l would trust my sophie info a lot more than the steady as she goes feedback that you received, as for damaging SP, lam sorry must have missed how strong the SP was before the damaging sell off, not having a go at you just my opinion
