AGM Thoughts

Just wanted to get a few other perspectives before I decide on what to do with my shareholding, as I'm feeling completely underwhelmed by this management and board of financiers.

My view of the AGM was supremely disappointing and it has given me the vibe that this is not a stock that retail holders ought to hold.

Thank you to the shareholder in attendance who asked about the Div policy becoming quarterly, and the ASA spokesman who rightfully questioned the ludicrous "do nothing=more performance rights" CEO incentive plan.

The fact that online submitted questions were not acknowledged, speaks volumes. I definitely will not be adding anything to my position after that lacklustre performance, given this was their chance to interact with the holders of the company.

A board of finance folks who can't protect the shareprice and use the Illuka shareprice slide as an example comparison, sent completely the wrong message that they are powerless to stop shareholder value destruction. They seemed very defensive and the chair talked about "education and incorrect assumptions" but didn't really offer much in the correct way to view things. Quite unimpressed, in contrast with some other AGM's i've been party to. Currently, the board seem to be patting themselves on the back while the SP has the potential to slide even further as IO price eventually returns to 2018/19 levels.