Well what a waste of time that was. The meeting was packed right out with 5 shareholders that bothered to turn up.
Apart from the secretary, Brian McMaster was the only director who bothered to turn up. The rest of them sent their apologies which means they couldn't be bothered. A bit like the shareholders I suppose.
Brian took a bit of stick and to be fair he looked as pissed off and fed up as the shareholders.
Still at least we all got a seat.
All the resolutions were carried because the chair was able to vote undirected proxies in favour so as virtually no one turned up or directed proxies it was all a done deal from the start.
When shares are this cheap it might be worth a couple of hundred bucks. Apparently the directors are all working for free because theres no money. Since when have directors worked for free? So is there something we don't know? Probably a lot we don't know but that doesn't really mean anything where this company is concerned. Consolidation makes things look better on paper but thats all.
Anyway thats my opinion for what its worth. I will hold my shares. Having gone this far I may as well risk the rest.
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