Ann: Notice of General Meeting/Proxy Form, page-14

Who is actually running the show?

I note that on the 8th of November last year, the CEO stepped down.
The chairman wrote "... An executive search process is already well advanced, and a new CEO appointment is expected to be made in due course".

It doesn't seem to have been as advanced as was touted.
So what happened to it, and the process?
Under the Corporate section of the Activities report in Mid January, there was no mention of it, not even an update!

The latest announcement says they have 4 directors, all of them are non-executive appointments, and none of them own many shares in the company, if any.

The ship seems rudderless, so I can see why some larger shareholder groups are unimpressed.
In fact, there may be a rudder, but the company doesn't give any information on who it is, and what are they getting paid.

Is the previous CEO acting part-time, and if so, how many hours a week, and on what remuneration and agreement. Do the shareholders know?

It all seems a little chaotic.

Do they actually have an executive of any kind?
And if so, who is it?

And as for the new group who are offering themselves up, I'm a little underwhelmed.

Two (2) of them are financier from Neon, when CMM would in fact only need one of these.
So why double up on the same qualification.
And Jendry is a 40 year oil and gas man - so WTF is this nomination, plain stupid.

It seems this new group has been cobbled together without any thought as to the right mix of talent required for the project, and if I was a shareholder, then I certainly wouldn't be voting them in.

I'd say that if there was a hidden agenda with this new group, then its to sell the project off - but at what price?

All the company needs to do, is appoint a brilliant new y0ung dynamic red hot MD/CEO, and then get on with it - it's not rocket science. There is more than a dozen good qualified experienced people out there who would jump at the chance.

It's the chairman's responsibility to recruit a new CEO.
The chairman has clearly dropped the ball here.
Just get on with it, and no excuses - but at least update the shareholders, they deserve that.

I will watch the vote with interest, but just had to make a comment based on some cursory observations and research.

Good luck to the shareholders, I may join you when all the ructions are sorted, and a new CEO is in place.

Gw