I suppose it's a case of you've got to fight fire with fire when you find out from other shareholders that they've been contacted by a group not aligned with the BOD regarding voting intentions. You can't blame them for contacting larger shareholders.
Having said that, I'm still not going to be influenced by one side or the other and have to make my own judgement in what I think is best for the long term future of KCN.
Whether I should have disclosed my voting intentions here is probably a moot point but was asked by a shareholder. I'm certainly not trying to influence other shareholders voting as I fully understand if they lodge a protest vote about the delays to the rebuild of plant#1 by voting against the remuneration resolution and I've previously threatened to do the same but a threat is not the same as doing.
I've previously also said that I think the bonuses paid of $250k each were justified in FY23 in recognition of getting the mine back and into production and I also said in June this year that I would support bonuses being paid or accrued for FY24 but that didn't happen - my voice here is obviously not as loud as some others.
I think that in reality(my guess) that the block of six nominee/institutional shareholders at the top of the register amounting to 87mil shares will vote as advised by their paid proxy advisers and it's likely IMO that these proxy advisers will deem the remuneration paid in FY24(as per the Directors' Report) to be fair and reasonable and of course they won't be influenced by protesting against delays to plant#1.
I'm certainly not going to be canvassing or recommending to shareholders over the next six weeks what to do with their votes as my interest in the matter is limited. Bring on the quarterly report as that should be more interesting than voting intentions.
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- Ann: Annual Report to shareholders
KCN
kingsgate consolidated limited.
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Ann: Annual Report to shareholders, page-37
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Last
$2.21 |
Change
-0.110(4.74%) |
Mkt cap ! $569.6M |
Open | High | Low | Value | Volume |
$2.28 | $2.35 | $2.20 | $2.311M | 1.021M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 500 | $2.20 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.21 | 500 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 500 | 2.200 |
2 | 29034 | 2.190 |
1 | 7034 | 2.180 |
2 | 29034 | 2.170 |
1 | 7034 | 2.160 |
Price($) | Vol. | No. |
---|---|---|
2.210 | 500 | 1 |
2.240 | 5627 | 1 |
2.250 | 5627 | 1 |
2.260 | 13146 | 3 |
2.270 | 8127 | 2 |
Last trade - 16.17pm 23/06/2025 (20 minute delay) ? |
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KCN (ASX) Chart |