trading halt, page-12

With all due respect to the posters on this thread... I am sick and tired of this theme of acknowledgement of how hard PF has worked and that he has been run off his feet and the company hasn't had any resources to work with for some time!

Stop justifying what is a clear case of someone being well and truely overpaid for a position in which he clearly has not enough corporate experience and aptitude for running a public company! Have you seen how much WE are paying PF? He is being paid an ample amount to achieve our expectations for him!

Add to this the arrogance of Peter Francis in his recent ASX response and we are all just being strung along!

It’s high time we acted to ensure:

1) Our Investments are Protected;
2) A Culture of Genuine Transparency and Shareholder Awareness is developed and implemented; and
3) The Board and Senior Management of BLT are given a dressing down (in person, not by correspondence) to ensure they are aware of what a poor job they are, and have been doing!

The available version of the Bentiec Board Charter states the following “The Board is responsible for the corporate governance of the company and guides and monitors the business and affairs of the company. In furtherance of its responsibilities, the Board of Directors will: (h) Review and ratify systems of risk management and internal compliance and control, codes of conduct, and legal compliance.” I believe the following points are a clear breach of the Board’s Declared Duty to implement and manage risk management strategies!

1) Lack of transparency to shareholders;
2) Lack of timely communication to shareholders;
3) Lack of timely rectification of discrepancies in company marketing materials (E.g. Website Content and Pipeline Updates);
4) Lack of the ability to meet declared deadlines and to “crystallise shareholder value”; and
5) Lack of acting appropriately to suppress significant shareholder concern.

These are all significant risks to any business, let alone one which is approaching a very tight deadline for raising funds!

I am afraid we are out of time to entertain the luxury of an information session by correspondence, so if we can get the numbers, let’s get a delegation to BLT to get to the root cause of the problem… arrogant and inexperienced management!