Bill - Your points below are wrong and unsubstantiated, here is my response, feel free to respond or continue to misquote and mislead my responses below. Refute your bullying claims in fact you are the one who attacked my character, creditability and opinions supporting change along with any other holder, we all just made the mistake of taking your bait and responding to you. All the best
1. Those engineering a spill are doing it only for the benefit of sophs and instos imo - totally unsubstantiated and wrong, as it's 88 who look after the SI's and Insto's, when was last time 88 raised cash via retail holders????
2. see their constant mention of retail holders now as being a totally disingenuous - totally wrong, most here are retail and voting are again retail. The majority of my holdings are retail NOT SI as very small after this year's recent purchase of SI placement.
3. clearly by a spill insider in here leads to the following points below- I am only 0.5% holder and have no leverage and just an opinion of what I want to happen, the reality is sooooo different, lol....
4. A new board of totally unknown people to all of us retail holders - If this was ever to happen then every holder would have up to 90 days to decide on all the best candidates, no secrets here or hidden faceless people. Just a democratic process. People will vote accordingly; we never got a say on our new MD appointment and look where we are and what has happened, imo.
5. Large share consolidation with imo an expected drop in shareholder value being the most usual outcome in penny stocks - Agree if 88 do this without multiple successes, they own no shares so will not be impacted imo and I don't trust 88 to do it at the best time, big concern for me. Also having 20 Billion SOI caused only by 88 and all those costly year after year mistakes has caused this out-of-control dilution imo, sadly we will eventually have to do a consolidation at some stage, as this register is a joke across the market and ASX, importantly fails to ever attract serious large investors/insitiutionals to our register....
6. The mother of all cash raises which would dilute retail holders who cannot afford to buy a lot more shares now (if they are even offered) with yet more unwanted dilution - Totally unsubstantiated and judging this on my sole comment of a "no one", wanting a decent raise similar to PANR so we build a hub and drill multiple wells all year-round. Find commercial successes then consolidate. How is this bad? This would put an end to the 1 well lifestyle and this is a bad thing??? lol... The reality is, never will happen certainly under this current lifestyle model imo of meandering 1 well a year and the damage imo already done, due to all previous failures and destroyed our register, it's massive now! Plus isn't this what has happened every year of 88's HISTORY.
Question for you - Do you feel the remuneration is excessive and do you support a 35% pay cut to all management ASAP???????? Good day to you.
RED - How do you know as a small holder and not involved with the company about the numbers, lol!! As I said from the start, I am just one holder who voiced my serious concerns and advocated for change. It's a democratic process, if holders want the SP to remain stagnated, same over paid, poor planning/decisions and a team imo who don't have serious skin in the game and the vote doesn't go the way I think it should, then so be it.
I am still a large holder and have well over 5% support to deliver a 249D in any case after the AGM results if I choose to present the company, so it's NOT over as you clearly state. Lots to play out so don't celebrate just yet. All I know we will have a spill vote this year if 88 do not reduce this remuneration to all board/management by 35% asap and MD remains, so it doesn't matter what I, you or Bill thinks, it matters what holders as a collective think. But some changes have to happen and the company cannot escape accountability for those terrible actions/decisions/failing to appreciate the SP and those terrible communications imo.. Good day to you.
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