voting intentions at the agm

PYC has it’s AGM on the 22nd November and it’s a good opportunity to put questions to management and also make a statement around the resolutions as a shareholder.

If you can’t make it in person you need to send in your proxy or vote 48 hours before the meeting.

Given all the frustrations being vented on this site I’m curious as to whether shareholders will take the time to make a statement and what those intentions may be. To kick it off;

Res # 1: I am inclined to lodge a protest vote on remuneration, it’s not binding, just a kick in the pants.

Res # 2: I’m inclined to vote no because I don’t want management continually diluting shares without asking shareholder permission first, but then again by holding this back are we restricting their ability to manage the company?

Res # 3: Not sure here. Is JCC adding any value to the company or just sucking out cash?

Res 4 & 5: Will support, for now, as the alternatives may be too disruptive.

Res 6 – 10: As frustrating as it may be I’m inclined to support this as the company needs the cash. To vote against it could put the company in a worse position, in which case shareholders suffer more.

Res 11: I’m happy to issue bonus shares to the scientists.

Res 12 + 13: I’m going to vote a big NO on these as I don’t believe they are deserved. They have already been given enough incentives and remuneration and given the lack of delivery they should not continually get more. Really get’s my goat that public companies continually give out options like candy to ‘incentivise’ management. In my job your incentive to do your job properly is that you get to keep your job !!

So, that’s my 2c worth. Anyone else care to share thoughts?