I agree with most of your post. But, the reason that I believe that we should contemplate a sale and distribution, is caused mainly by the apparent inefficiency that our Board has displayed to date while supervising that our sp dropped to what I would call it a record low, (considering the capital restructure that was forced upon us).
Not a very good record, and not something that any of us would be happy to write home about.
As for the election of a new Directors to the Board, I have my own opinions tahi. And one of them is that by having seven Directors on the Board, and not eight, the Chairman may not be required to use his casting vote anymore, and he has to do what the Board will decide during their Board Meetings. That is Democracy. Now, with 8 Directors on Board, his powers are in fact increased to the extent that, should the necessity arise and there will be a tie, he will have the casting vote that will give him that extra power. Me, personally, I don't call that Democracy as it will allow the Chairman that extra vote to swing decision in his way if he saw fit.
Just think about mate, as it is the truth. In a Democracy, the majority always wins. In this instance, the person that has the casting vote (TWO VOTES), has the final say and IMHO Democracy is then being interfered with, and pushed aside.
MPO Price at posting:
30.0¢ Sentiment: None Disclosure: Held
