Ann: Proxy form for EGM, page-3

REALLY wish I could be in Melbourne for this. I have a lot to say about this one.

Short answer is NO. I might only hold 10,000 shares but if I wasn't even worth a letter from these pretenders then (IMO) they clearly don't care about us smaller shareholders. I would very much like to know what those directors said to the few shareholders they wrote too.

What I deduced from the GM notice was that the investment manager CGA got antsy that the CTN board gave that $30m to another manager and is now reading the tea leaves and threatened that they will lose the $200m management agreement in 2019 when the under performed trigger is hit. That would be such a material blow to CGA that they can't risk it, ergo "let's remove these 3 recalcitrant directors and make sure that decision is never made by controlling the CTN board". Now I do't know about you but I can't imagine a parallel universe where that is in the interest of CTN shareholders so I hope it gets voted down.

I want to be clear that my no vote does not mean I approve of how the existing CTN directors have managed this company which has gone nowhere last few years. Aside from what I see as a terrible conflict of independence of these new directors I am insulted that whoever is behind this takes us pee-on shareholders for granted and IMO insults us by presenting nominees with not even 10 minutes of LIC experience.

The GM notice made it abundantly clear who delivered the performance there. I'd be happy to sack most of them and have David Stevens manage the portfolio again because that was the only time it performed well.

This might not actually be so silly - I read the 4C from the CGA fund manager and I don't know how they will even be around in 3 months. Is there an "our money is at risk being managed by an investment manager that verges on insolvency" clause too? If the manager goes under, or loses staff because it can't pay market salaries and good bonuses, what quality stock pickers are going to work there? This is not independent