can trf shareholders say no at ife agm???, page-3

Gozz, you raise a very good point. As I see it , the voting of the TRF shares in IFE is under the control of TRF's directors 2 of the 4 being Finch and McKay who stand to gain personally in a major way from the proposed IFE performance rights (a misnomer !) and options. I would expect Finch and McKay to abstain from voting on the resolutions that they each benefit from but it does not take a rocket scientist to guess how the other (patsy) directors are likely to vote ! IMO TRF should abstain from voting on the IFE resolutions and let the will of the unrelated/independent shareholders of IFE cast their judgement, but is that likely to happen ? Failing that, the only option is for disgruntled shareholders to confront the directors both before and during the IFE general meeting. While Finch and McKay may think the vote is a fait acompli, I am not so sure they are aware of the likely embarrassment they will personally suffer once general shareholder sentiment becomes more public ! All this , of course, only serves to undermine investor confidence and the SP (that is clearly evident by the fall in the value of IFE shares immediately following the notice of GM - at a time when the price shiould have been heading North in leaps and bounds.) Personally I am very disappointed; IFE is a high risk share and just when it looked like our risk-taking was about to be rewarded the whole structure of the company is being altered to hand a large portion of the gains to Finch and his cronies. Loss in value in IFE obviously impacts dramatically on TRF as well, but, even more, it throws doubt upon the motivation of the TRF directors - how long will it be before they believe they are entitled to 2m performance rights in TRF ??? I have a significant shareholding in both TRF and IFE - currently looking at a 20% loss but very tempted to cash out of both - or fight !!