Below is an outline of how I intend to vote at the next AGM. Please feel free to criticise/discuss. Note the current proxy form is inconsistently numbered!
Item 3: Re-election of Mr John Wallace Doutch as director No! By my memory shareholders never elected him. Also he has been talked about as one of the guys playing games behind the scene.
Item 5: Increase maximum number of Directors No! Instead of increasing the number of directors to accommodate someone experienced with iron ore, why don't we kick off an existing director with less iron ore experience?
Item 6: Approval to increase fees paid to non-executive directors No! This proposal amounts to a potential 100% pay rise for all non-executive directors. This is an outrageous amount given the lack of value added they have proven.
GWR Price at posting:
34.0¢ Sentiment: None Disclosure: Held
