Thank you both sincerely for attending that meeting, for your questioning of the Board especially Managing Director Russell Langusch, and for your reports back to this forum.
What is the point of calling a meeting if the Board refuses to participate in the discussion epecially providing answers to the questions on the day from shareholders. Why bother? We might as well not have meetings and vote by mail.
It makes a mockery of shareholder sovereignty... and a mockery of the system of regulation by the market. I wonder did the regulator, ASX Ltd or ASIC attend the meeting? I feel a letter coming on to The Hon Chris Bowen, the Minister for Corporate Law. It's at that level that this corrupt system needs remedy.
Hardmano it was pleasing to hear that the three former board members were in attendance (Chairman Mr B C Hung, Managing Director Mr Barry Smith and Non-Executive Director MR W G Allison - all well credentialled and highly experienced professionals, more so than the current board can boast). Even more pleasing to hear that you had discussions with them before and after the meeting.
Hardmano can you share more of your conversations with those three with this forum, including your description of their body language. I can't think what they had hoped to achieve by attending... solidarity perhaps with us losers? Or was their attendance an apology to OIP shareholders for allowing themselves to be bullied into resignations by Orion's major shareholders ESG and Ingalls & Snyder LCC? Perhaps they need not have resigned! I wonder could they have remained on the Board as three dissenting voices to the merger?
We ought to engage them as witnesses to the Federal Court of Australia. Those questions deserve answers. You didn't happen to get their new business cards by any chance?
Thank you again, Regards, Fairgopat
OIP Price at posting:
7.1¢ Sentiment: None Disclosure: Held