Tim was an executive chairman & ceased his executive role a...

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3500

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23/12/23

17:21

Post #: 71604954
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Originally posted by Grasshopper59: ↑

Hi 3500,

Thank you for the opportunity. What I am doing is most probably all in vain, but I did have to give it one last shot. My passion for the company I founded, and the industry we serve, has been a driving force in my life since I was 23. This passion has been a constant, even through my darkest times. Now, as I stand at a crossroads, I find myself considering offers that, ironically, would place me in direct competition with the very company I birthed and nurtured. This is far from my ideal scenario, but the industry is ripe with opportunities for innovation, and my desire to contribute remains undiminished.

# You founded Laserbond in 1992 , but the family thought fit to install Wayne ,not you, as CEO when it floated in 2007.

Wrong - A gentlemen by the name of Tim McCauley was appointed CEO when it floated in 2007. Both Wayne and I continued as Executive Directors.
Please do your research 3500 before making such statements.

# Your narrative contains many historical incorrections.....QSP acquisition was made in Dec.2021 well after your resignation.

What, do you believe a decision was made on the fly in 2021?
I had known and dealt with Neville Brokenshire, owner of QSP Engineering, many years prior to me birthing HVOF Australia Pty Ltd in 1992.
I did initiate the purchase discussions with Neville a couple of years prior to my departure, at that time he was requesting 6m for his company.

# You take credit for every good thing that happened & denounce every other Board member.......I find it objectionable.....who was responsible for the Peachey's engineering debacle BTW?

I am not denouncing anyone, we all had our roles to play in the success of the company. Most administrative abilities, as I am sure you are aware, can be found in abundance in the market.
Board minutes will show that I was against the purchase of Peacheys Engineering!
Tim, and the rest of the board believed, at that time, that it was imperative that we do something quickly with the funds raised.

# You have been a constant seller of shares over the years & never participated in DRP....You started with >8m in 2007 , now you have no skin in the game whatsoever......Wayne on the hand hasn't sold a single share & always participated in DRP.....He has vested interest......Who do we trust?

I do still have some skin in the game, but for the most part you are correct.
I have never required security and have always regarded money as means to an end.
My passion, love, and drive for the surface engineering industry is what has catapulted the company, not my shareholding.

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Tim was an executive chairman & ceased his executive role a couple of years later.
Yourself & Wayne were both executive directors but it appears that Wayne was the defacto CEO & you were mainly concerned with R&D.
The real turnaround in LBL fortunes happened shortly after you brought Thomas Schlafer to take over R&D leadership which you handed over in Feb.2020 & you ceased your executive role & retired from the board end of June 2020.
Your depature ,thankfully, didn't kill LBL.....On the contrary it flourished,because of strong & cohesive team & Thomas' strong R& D leadership.
Not quite sure why you want to sink a good ship.
I have a large vested interest in this company & I personally will not support you in your bid to join the Board.

LBL Price at posting: 89.0¢ Sentiment: None Disclosure: Held
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