It’s not hard to realize someone with around 21% of shares in a company the entity can use that percentage to bully small shareholders and management. Particularly as a great number of small share holders are apathetic when it comes to voting anyway (predictably their feelings are, their votes for a few thousand shares are virtually worthless up against holders having multi-millions of shares).
In the upcoming EGM election for HAV on 4th Feb it appears the bully effect is well and truly in play. Clearly two of the founders who floated the public company HAV on the ASX in 2002 have now got very different views as to what is needed to turn HAV around and get back on track (into a growing instead of the dying company it is at present).
Mr Market has for several years recognized HAV’s shortfalls and associated problems and HAV share prices reflect that, it’s doubtful Mr Market reflection will change unless HAV make some serious changes.
From 2002 until Nov 2013 I see Dr Bob Johnson filled the roll of chairman of HAV. During this period the share price range was around 50-60 cents with peak around $2.20. In Nov 2013 Mr Ken Williams became chairman untill Dec2018 share price range for period was around 20 cents with a short peak at 70 cents. Mr Ken Williams became chairman 12th Dec 2018 till present share price on the day of election was 18.5 cents but very soon fell around 20% and falling.
We all know as time goes past, history is created. Things certainly have not looked good since Kenneth Williams and more recently Mark Stewart have taken chairmanship rolls (you don’t have to be a Rhodes scholar to work out who’s influence put them there and thus virtually controlled them).
Given the AGM director election in 2018 only about 110 million votes were lodged and given Dr Chris Giles has upwards of 43 million shares (and probably influence over many more) the chances of changing anything with HAV is going to be virtually impossibly unless disgruntled smaller share holder voting turn out is substantial.
Please shareholders take time to consider following items
Item 1. See Lotirish Post on 14/01/19. Scored 24 (likes) thumbs up and 13 Great analysis. One of the best, passionate and honest posts I’ve ever seen on Hot Copper.
Post #:37110907
Item 2. (Mr Peter Johnson) who is CEO of Maptek Please have a quick glance at Maptek site, on following link (provides comprehensive 3D modelling, spatial analysis and design technology to the global mining industry with a range of solutions; Vulcan, I-Site, MineSuite, Eureka, BlastLogic, PerfectDig, Sentry and Evolution.)
Yet Chris Giles believes Mr Peter Johnson, Maptek’s CEO is not capable enough to fill a relatively simple director position at HAV. Really!!! It might appear to many who have a look at the Maptek history, that maybe someone of his Calibre could in fact rescue HAV from it’s quagmire.
To Dr Chris Giles I know you expressed to me how you hate the armchair critics on Hot Copper (so you certainly have a read on H/C). If you believe your so correct, in your belief that your running of HAV is without fault.
Why don’t you only vote with the same number of shares as the Johnson family controls? (you have that power) This in effect take both Giles and Johnson families out of the equation (as they become equals). This would enable remaining shareholders alone to decide the future direction of HAVILAH, of coarse if you have done a great job guiding Havilah in recent years, the decision given will show it. Yes to follow this suggestion, I believe both you and I would at least agree on one thing. The ability to bludgeon or bully the EGM result by the sheer number of shares your able to vote upon all but disappears.
Reality is that a damn site more shareholders than what voted at AGM, need to lodge their votes at the EGM to make any real difference.
Unless of coarse Dr Chris Giles considers becoming a gentleman and accepts the suggestion above and limits his voting power.
All share holders if your tired of seeing the value of your investment in HAV disappear as I am, here is your chance to make a change.
Please vote to at least get a new Director!
(20min delay)