THE BIG PICTURE
Most of what has been written have been taken on board, including parties associated with the old board, the warnings, criticisms on one end and encouragement, praises on the other end.
Before we initiated 249 proceedings, we have given thoughts that it could go down south, even with the new board as pointed out by some of the posters. Experience has taught me there wasn't a sure thing even if we were successful, the company could still fail. This has played out in the past on the ASX and served a timely warning that everything has to be treated with caution. Even as late as the recent posts by eshmum, I thought many of his arguments were legitimate although I did not understand his motives for doing so even till now.
Over the years, at the AGMs, personal meetings with members and in particular members of the forum, I have never met a more passionate and dedicated group of investors than those in HC and in particular BGS shareholders. The proponents have dedicated so much of their personal time, so unselfishly is to be applauded and I sincerely thank everyone and each of you for your dedication in particular boy1, franky1, MB, aptayl and others that I could have overlooked but had played a part in the success story in getting a new board. We also had our supporters outside the T20s and many others that gave their personal support and were so supportive in their efforts. I thank you too for your support.
The initiators were great and able to work together so closely that even the old board did not realize that they had a battle on their hands.
We now have a new captain, executive chairman James McKay. He has appointed his generals(other directors), crews. Although he has not spelt out his personal preference in details, he has in my books done all the right things that he should have done and put in order everything that is within his control.
From my observations, James is a team player and he likes to look after members of his team. What he has requested appeared to be in excess according to some posters, especially he has asked for his other directors as well for the same amount. BGS is only a small company with a very low market capitalization, so for the frugal and some professionals, they appeared to be excessive, the requests by the current board.
It also appears to me that we have too many chiefs on initial thoughts. However, for James, this is a team effort and he appears to know what he is doing. He exudes confidence, know his own strengths and what he requires to be done. To make things work, and in his way, I agreed to the new board requests without variation. All I want to know that he will get us there, in doing so enrich all shareholders as he will do the same for his crews and all board members in doing so. Along the way, I hope Jame's efforts is reflected in the SP, that is climbing steadily to reflect the efforts he and his team has put into BGS.
James, thank you for taking the role of commander in chief of the BGS ship. We look forward to you directing the ship and in doing so enrich the coffers of stakes holders who have been loyal, dedicated and will continue to do so with the right incentives.
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