One chap at the meeting put forward to the Chair and CEO some of the points that have been addressed here. The response was pretty underwhelming. They even advised that it was possible that the banks wouldn't have lent them the money as they have mortgages.
If that's the case then why should we bear that risk at a below market rate?!
Anyway, it's done now. The directors will need to really pull their fingers out start bringing in some big $$ to win back the trust of a large number of shareholders. I will certainly be voting no against any remuneration increases and bonuses while they have this loan in place.
Ann: Results of Meeitng, page-7
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