agm and resolutions

Followers of this stock will know the AGM is coming up this Thursday.

Although I can't be there I am hoping that some tough questions get asked because there is a serious need for reflection on the past and answers on the plans for the future.

ICS has hit a low of 4c and looks to be under considerable selling pressure - why... because there is NO coherant strategy on record for getting themselves out of the hole they find themselves in. Tim's latest announcements were pathetic - poorly structured and lacked vision. Is he really the man to front this organisation. Seems very one dimmensional to me.

So, what will the AGM hold?

I am certainly looking for clarity on the future strategy. Tim says the past strategy has failed (well it's more like the second, third, or fourth strategy failure, but who's counting...). So what next? A billing company or IT consulting business doesn't provide a point of difference to justify supporting the company. Just how are they going to ressurect this business?

Remnueration is a big one for me. If you read my last posts I think management is grossly over-paid, particularly Tim. His base salary should be greatly reduced until he can post some positive results. I have heard rumours that the board is thinking along the same lines and that salaries may be reduced. Mind you I also heard that Tim has argued against taking a reduction to the same extent as other management. Don't know why but can only guess it is to cover his personal lifestyle needs - not that that should be a shareholders concern.

Does anyone know Mr Bunyon? Should he be re-elected?

What real choice is there but to ratify the other resolutions?

Overall, two main elements to look for:

1. Clearly articulated and credible business plan, and
2. Change to the remuneration policy.

Any others to look for you think?

I hope some proactive shareholders take the floor at the AGM to get management and the board focussed.