agm - loan notes & voting, page-6

LOTM , Thanks for reply /comment , on my post .
I posted that with a bit of tongue'N'cheek,in reply to your post urging everyone to vote No to all 3 resolutions . You state your reasons over your last 2 posts with the usual clarity of unbiased reasons .

I am not here to convince anyone to vote either way ,that is up to each holder .
But will give you a bit of a ramble on how I feel about AZZ at this point .

In the past I have voted against the remuneration resolution . I have even had discussion with JC on the fact that I have cast an against vote ( give you an indication on how many votes I have to cast) .
I will continue to cast an against vote until I start to see {what's the phrase that JC uses "Wealth Creation"}for the shareholders . It is not good enough that when they miss their bonus or performance rights they just give themselves another pay increase . Last Annual report 2013 Page 3 shows that most operation results for 2013 were worse that that of 2012. however the board took away a similar remuneration package .
The reason for the drop in total directors remuneration is that there is one less director .
Although the company recorded a profit of $39.7 mil. 2013. the cash position did not improve a lot (1.3 mil. and the amount of Debt increased by approx $4 mil. it shows that the profit reported in 2013 mainly paper profit and has no positive impact on the company's operation .
The company is still burning money and its operation is supported by borrowings .

Bottom line they need to keep quite and find Oil /Gas . I think long term and maybe short term holders have had enough of the sales talk .
In saying all this I am a long term holder and have appox, doubled my investment so I am well in the black , I think that there is more to be had out of NS and will wait to see . ( but not to long ) .
As Gerkin08 said JC brought us back from the brink , but I think that he has been thanked and rewarded and we cannot be grateful forever .

LOTM my question to you .
If you had your way and were able to get rid of the board ,as you seem so keen to do , What then , what plans would you have in place to carry this company forward .

Also, if you feel so strongly about all these resolutions , have you telephoned any of the board members to discuss ,please also do not say thy will not talk to you as Vicky answers the phone in Perth , I can give you mobile numbers ..
If you need to break a window you should be able to have an idea how to repair it ..
LOTM I enjoy reading your's and everyone's post , I hope everyone has a great and safe Easter .

LOTM , Posters do not live by thumbs up alone . :)