Originally posted by Process1
Hi tuts,
I share your suggestion and opinion regarding what can we do as shareholders. In this case we need to clarify our strategy to make sure the new management act by law and benefit of shareholders. When I used ceasefire word I did not target anybody. Including myself, yourself, we have to be realistic and concrete origin of problem itself not side effects.
My voting power, my HC posts and my communications cannot make big differences, yours too individually. We should formulate our suggestion as shareholders we should act together, communicate with the new management regarding our expectations.
If anybody misleading, ramping or undermining our efforts cannot work anymore. We should stand up and take control over our investment. We do not need down or up rampers any more here.
What we are doing here attacking each other, attacking GPP management and achieve almost nothing, may be satisfying our anger. How many more years we are going to do this?
Please tell us how we can implement your suggestions?
If there is mishandling finance, project and all other aspects of the company ASX will be involving, then ASIC can involve. However you need to have strong and valid evidence to apply ASX and ASIC.
I believe several people attempt this way without achieving anything.
In the past some people apply ASIC, they did not get any answer from them. ASX can delist the company at the most, ASIC investigation can take minimum 12 months +
If you wish to takeover the company you need minimum 5% voting power(249D). Do you have enough voting power to call EGM?
The ceasefire should start with us, develop plan, execute, achieve good solid results. Otherwise ASX or ASIC cannot make our lost.
After all we have to have realistic solutions for current problems;
1. Make the new management to achieve what they promised
2. Sell the shares and leave
3. Please suggest anything you wish to make it
As a engineer I believe every problem has a solutions. If you tell us problem only and not provide any solutions for this problem then we cannot achieve our goal.
If we address each problem, if we have a good plan, good communications among us and with the new management we can take ourselves from this undesirable situation.
Regards,
I did make suggestions and that was
1-To let the management know there will be no salary as we will participate in a CR UNLESS they DEMONSTRATE they are doing things different FIRST, not just new face same old. This is what GPP has done, new project sane old. This time, due to treat of D249 they decided a new thing cannot work if it is a project, so they decided to make it look like a new management. Well, I have to see that FIRST, not just new face same old. FOOL NO MORE. They need to gain our trust FIRST and that is not by some people with dubious past in HC "telling" us we should trust them.
2- The other suggestion i made was to NOT bote for renumeration. This has made a SUBSTANTIAL difference with another company i hold shares in. Last AGM they got their "First Strike". Please read the rules on that. The vote against does not have to be (over) 50% of total voting power but only over 50% of those who vote for & against. And un that case the management held a substantial % but they could not vote on the resolution. So the vote against did succeed and the management is now on alert as following a second strike there will be an automatic spill.
