The problem is shareholders not voting. I voted against it but only a fraction of the holders voted at all
? The McNeils only hold about 5% vote block int he company, where was the rest? Comes down to apathy.
Resolution 7 – Consolidation of Capital
In favour: 62,606,330
Against: 12,525,866
Where are the other 100m's of shares on the decision? Surely the top 20 shareholders would have put a decision in. The most annoying thing is the lack of information from the company why they want to do it?
What is the plan behind it. If they had bought in a small sum and did some exploration work the SP might move towards 1c and get some momentum. But like Paige at QRL total silence.
Ann: Results of Meeting, page-13
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