Originally posted by billmac
Missinglink
I suspect Chris Giles and Bob Johnson, who are both geologists and both were initial directors when Havilah was floated on the ASX in 2002. I’m guessing here (as I do not personally know Chris or Bob) fair chance they were mates facing the challenges of running a Public Company, probably along the lines you have described and for 10 years or so followed that path.
That path appears to have changed when Bob Johnson resigned to concentrate on developing Maptek into what it is today. Possibly that left Chris pretty well in absolute control of HAV, basically because of his massive shareholdings in the company (not because of his business acumen).
History shows how HAV has performed since Bob’s departure and the market reflects that direction in the share price. I guess the annoying part for me and I presume many other shareholders is that Chris Giles the major shareholder by far, does not seem to recognize the downward spiral gripping HAV for the last few years.
Having a fairly substantial number of HAV shares I find it hard to understand why Chris Giles is so anti Peter Johnson CEO of Maptek (for that matter the Johnson family, as would appear from Chris’s rants in ASX reports).
I’m guessing again here, but not unreasonable to suspect. Maybe Bob Johnson just wants to see HAV run in the right direction again and have a chance to realize it’s real potential, resulting in his family being able to get a decent return from their longstanding investment in HAV.
Whilst it appears Chris Giles just wants to fumble along, mess up after mess up, probably simply because to agree that change is needed, Chris would be admitting to his massive failures.
I'm curious as to where you got this information from, as I could not find any such references? I followed up on your bold statement regarding Dr. Giles' rants about the Johnson family,
"as would appear from Chris's rants in ASX reports", and the only mention I could find Dr. Giles make of Dr. Johnson (or his family), paints quite the opposite picture, one of positive respect rather than negative rants.
"I founded Havilah with one of the requisitioning shareholders of the EGM, namely Dr Bob Johnson, for whom I maintainthe utmost respect".
https://www.havilah-resources.com.au/wp-content/uploads/2019/01/EGM-Dr-Chris-Giles-Letter.pdf
If I'm not mistaken, I also believe that I read a quote somewhere of Dr. Giles admitting that the requisitioning shareholders do have a valid point, which was perhaps evident by Dr. Giles and Dr. Johnson chatting quite happily at the 2018 AGM.
Perhaps Dr. Giles wants/wanted to try and resolve any existing issues with the requisitioners in an amicable manner, in order to avoid the mud slinging match that this has become, which in turn has destroyed the SP (coincidentally one of the key points that Dr. Johnson stated that he would "reset" / fix).
My 2 cents,
JDI.
(20min delay)