Have to agree wholeheartedly here with Semi & Second. Having two Directors (Rolf & John Hurrell) who are effectively based overseas and arguably have other more pressing matters to occupy their time is completely inappropriate.
We were given no reason why Studley was added to the Board. He is clearly a "plant" and Mr Hurrell's performance on Monday was a rather pathetic attempt to rally support behind him - which rang alarm bells for me in that he might be there only to support Hurrell at the table. I ask again, who brought him to this Board.
This Board has had a succession of Directors that were "planted" by First Cape. It is about time we had a clean-out with a Board that has the mindset to evaluate strategy and get on with commercial decisions.
Geoff needs to be retained for two very valid reasons - his knowledge of the market engagements, and his unwavering financial commitment to this company as a substantial shareholder, and Matt represents a very substantial shareholder.
My choices are clear - yes to Geoff & Matt; No to Studley. I will expect these questions to be asked at the AGM.
ADO Price at posting:
1.7¢ Sentiment: Buy Disclosure: Held
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