After reading some posts here last Sunday and Monday I decided to re listen to the webinar, review all of the information provided to Shareholders in the ASX announcements and the FAQ.
I emailed Rick on the Sunday to confirm Directors were contacting shareholders, and was offered a call if I had questions.
I took this offer up Tuesday Morning after my review.
Rick told me nothing that had not already been mentioned in the webinar. It more confirmed my thinking with what he discussed around the 32min - 35 min area.
The call did not make me feel a catastrophic outcome for shareholders would occur if resolutions 4 and 5 were not passed.
We did not discuss resolutions 1 & 2, so I note:
Res. 1. Why vote for?? It is non binding, it only comes into play at next years AGM.
Res. 2. Ambers re-election. They have already said they are looking to reduce headcount if cash box. An against vote here sends a signal to reduce costs IMO.
For Res 3. We both joked, who in their right mind would vote against???
Res. 4. I highlighted above the area this is discussed in the webinar. I have to draw my own conclusions fro this and I have decided it is in MY best interest to support this resolution.
Res 5. NO WAY on this one IMO. Blank cheque resolution, no where near enough detail supplied. The wording even admits this IMO.
Number 5 IMO is the Michael Anderson resolution. Ride off into the sunset come wind rain or shine. Shareholders get stiffed and they get the cash.
5. Is the back up clause IMO if the deal falls through OR the deal is signed and the cash is on its way and a SHIT HITS THE FAN moment occurs where they all run for the hills. FFX anyone??? Deal done arbitration request turns up. JHC disaster.
So for me it is:
1. Against
2. Against
3. For
4. For
5. Against
It is not too late to contact the company if you want additional info.
It should be noted that I contacted Rick in November 2022 via the companies email and he has always been prompt in response.
All IMO
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