A very informative article in the smh this morning regarding Molopo Energy (MPO) and how the disgruntled shareholders got together and voted out the old board.
While I'm not disgruntled yet I found it interesting that Molopo is quite similar in its makeup of shareholders it seems, below is a section from the article:
"Apart from the defeat of the incumbent board, Molopo's meeting was extraordinary for the remarkably high percentage of votes cast.
Close to 55 per cent of Molopo's total issued shares were voted, nearly twice the 30 per cent average in such meetings and even more unusual in a company that does not have a large institutional presence on the share register.
With a market worth of less than $300 million, only a third of Molopo is owned by the 20 largest shareholders, leaving a lot of room for small-investor influence - three-quarters of its 8000 shareholders have less than $10,000 of shares."
It really goes to show that as shareholders we have a lot of power to make sure our board of directors are doing there utmost for the benefit of the company they sit on!!
At the end of the day we as shareholders want to see a positive return for the money we have put into a company, when this isn't forthcoming then we are within out rights to question what is happening.
Just my thoughts today, the thing is I DON'T know how well our board is actually performing?
Cheers
PRE Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
