In some decades of observing corporate governance behaviour, I can't recall seeing anything quite like what's happening at Contango MicroCap, where the chairman, Mark Kerr, is making no recommendation on attempts by two individuals to unseat three quality directors.
For old hand in this game Michael Pascoe to say this, it means something. I'm not a fan of him, but respect where its due, he did his homework on this
Clearly, if this vote does not get up- and good on you Michael for spelling it all out for the market, clearly Mark Kerr has to resign
I am aghast at the fees the brokers have pillaged out of this. Fees fees fees. All these placements and raisings, and underwritten dividends- at discounts to NTAs and Share Prices, there we have it. Driven by the brokers to generate fees
I would be quite happy to remove anything to do with CAM from CTN and appoint David Stevens and OC as portfolio managers for this
CTN Price at posting:
$1.01 Sentiment: None Disclosure: Held
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