I sat done to have a cuppa last night and read the Notice of AGM. Luckily I was sitting down at the time of reading Resolution 5.
Is everyone else aware that Jim Richards wants to grant himself 5m options for almost nil consideration (given low SP)????
I find this a grotesque blurring of the shareholder / director boundaries. Here he is, trying to claw back the 5m shares he settled to give UMC under a legal dispute taken by his former employer for alleged missus of his role as Managing Director.
I can understand issuing 500k of oppies, 1m at tops, but 5m oppies! Seriously. Does Jim think POZ is his personal private company that he can exploit willy nilly.
On this basis, I will be voting AGAINST all resolutions bar Resols 2, 3 & 7.
Does anyone else agree to my comments on Resol 5?
POZ Price at posting:
4.2¢ Sentiment: Hold Disclosure: Held
