CB I appreciate the effort and energy you have put into this, these things are a lot of work.
Cottee is bound by the SOA to promote the SOA - that means accentuate the negative and downplay the positive. His comment regarding the company needing new directors at the meeting was part of accentuating the negative to help ensure shareholders feel they had no choice but to vote Yes. Hence I am not hanging onto that particular comment and placing any importance on it. The only way to win this game is to hold them to ransom and vote them out, the board won't budge otherwise.
I would also say asking the CPSA for help in returning JH was also never going to work since they voted him out in the first place. So no one should be surprised that they rejected your approach on this one. And I can see why they voted him out, the dilution and -ve cashflow during his time was a major problem. Even though he would be returning as a Director and therefore somewhat at arms length there are a number of reasons his presence can be disruptive and as such I believe the market will see his return as a negative event for the company. You have also now basically said that he's the only option we have as no others are interested or available, this is not a suitable reason for putting him forward, once again a negative event for the company.
As for this comment "And if SH want JH off the Board they simply do not vote for him in approx 6 months time, very simple."
It is NOT very simple. I have to say that is a crazy suggestion!
As you are currently finding out, changing out a board is a very difficult process, and you are suggesting you want to put shareholders through all of this again 6 months after the SOA vote. This will be a de-stabilising for the company and the share price. The majority of shareholders didn't support him a few years ago and a lot still won't so it will inevitably turn into a fight.
Sorry mate but I won't be supporting a return of JH. Find another candidate and I might jump on board.
For the record I want to vote No but in the absence a decent option it is becoming hard to justify it.
CTP Price at posting:
20.0¢ Sentiment: None Disclosure: Held
