I agree it is a concern but they can't 'unknowingly' but if you think back to the events of the last 18+months (as I know you have been around long enough to be aware) they have offered themselves as proxy for those who are willing to hand their votes to the 'collective'. I have no doubt that many did hand their proxy over or follow the rhetoric they spout on their forum and just follow the vote the CTPSA indicate.
At the meeting the pre-vote numbers of the possible outcome of the 1st motion was clearly driven by a small head count of shareholders which suggests the outcome is just a giant dummy spit by a small number giant shareholders with influence over a group of supportive shareholders. At the meeting with discussions with representatives the actual number of shareholders who influenced the pre-poll numbers was only about 27 shareholders so clearly included a number of very large shareholders.
Like the Chairman, I would rather hear from these large shareholders why they are upset and voting this way rather than it is all just a big secret. If they are just voting this way because of the attempted take over from MQB, poor form guys...move on.
Taking this on board, along with the outcomes of the 2 director votes, there is clearly some big shareholders with a definite agenda. Ousting directors when there is very little advance action indicating problems (yes we are all upset about the attempted takeover by MQB) but taking the action to dismiss directors 12mths later when everything else is starting to work out is purely just an act of retaliation reminiscent of a spoilt 4yr old having a dummy spit over not getting his ice cream. I do believe we saw a demonstration of this at the meeting yesterday...
The decision to remove Dr Ryan was clearly a poorly informed rookie mistake as there was obviously no due diligence done on the background or value that she brought to the company or what work she had undertaken since coming on board. Additionally, the removal of Dr Moore was another gaff almost proportionate to removing Dr Ryan, yes he has been around through some of bad times but this alone should not warrant removal. I have been around long enough to know his involvement but I also know better than just to let my emotions control my decisions. When considering the value of these directors for the company it needed to be taken into account what there roles for the company were and how suitable were their skills to fill these roles. Both had valuable skills that were of great benefit to the company and now they have been removed as directors, if CTP needs to access their skills they will contracted as consultants and probably earn more per hour than they would have as a director. What a genius move to remove them...
I remind my fellow shareholders that emotion based decision making is a dangerous way to manage your investment and that it is important to remember there is a reason why the windscreen of your car is so much larger than your rearview mirror, you are supposed to focus much more on what is ahead of you and just keep an eye on what is behind you as you are meant to move forwards otherwise you end up going backwards or crashing because you are too focused on what is behind you. In other words, lets just move forwards together while we learn from past mistakes rather than dwell on them.
Just my own opinion and dyor
Time to countdown, 3 weeks to NGP
Cheers R
