A good question EW, and to answer it honestly without keeping things in context I need to expand on my answer. I hope you don't mind a long winded reply.
Firstly, I've always tried to attend AGM's when I'm invested and the AGM is local, and I always have a few questions.
But covid changed that, and I think many companies have found it an advantage, cost-wise to hold AGM's online. Gary Steinpreis did mention at the meeting it would be preferable to have meetings online, for a number of reasons, and it certainly can increase the attendance at the meeting considerably.
I understand that Thomas is Sydney-based, and thus without another reason to be in Perth it made senae for him cost-wise to attend via Zoom.
Yes I was very surprised to see just a couple of shareholders, and just after the meeting started it appeared another shareholder (?) turned up but he peered through the glass door and then left, not sure why (maybe wasn't sure if it was the AGM or another meeting). From my pre-covid observations attending AGM's I assumed there would be more in attendance bearing in mind the status of the Company’s activities, and the recent flurry in share price, plus CR. (Maybe it's comforting that investors have entrusted the Company with the $3.5 million investment and didn't feel the need to attend, or were already up to date due to the recent past Presentation).
The fact that TAR had provided a presentation for the REE a week earlier meant that presentation was still relevant, and thus a presentation specifically prepared for the AGM wasn't necessary.
Pre-covid I always found it difficult to decide which Company’s AGM to attend if the timing clashed, which tends to happen at this late part of November (pre-covid, and when fully invested I'd be running from 1 part of W. Perth to another, lol). Maybe other explorers had meetings on yesterday about the same time.
TAR is still a small Explorer, and predominantly SA projects, so that may have something to do with the attendance - I haven't attended any other small exploration companies' AGM's this November so not in a position to judge. But certainly Gary Steinpreis wasn't expecting many to attend.
With yesterday's meeting Thomas and the board were open to any question posed, and i found it an ideal forum to ask quite a few questions - when there's a room of shareholders its not so easy to hog the question time.
There was no question posed wrt the CR. Whilst I was personally surprised of its timing (which I've mentioned before on HC), I guess the BOD has to make a judgement call on the timing, and the negotiation wrt pricing, bearing in mind the CEO has the most to win, or lose, from the CR - since Thomas is one of the largest shareholders, if not the largest.
Mind you my feeling is that Thomas is predominantly responsible for technical aspects of the company's activities, not the financial aspects. And note that he isn't due to take up shares wrt the 2 8 cent Placement, it's the other members of the board.
All in all I was happy how the AGM went, and I look forward to the news coming out of ANSTO, plus Flinders (WHENEVER!!!).
Add to My Watchlist
What is My Watchlist?
