Earlier post seems lost in the ether. I suggest that for the majority of us who are not going to the AGM that rather than ignoring our proxy votes or giving them to the Chairperson that we nominate someone who is actually going and can represent us, the smaller shareholders, as a group.
We need some answers and with a representative with a decent number of shares it harder to ignore that person. It also further demonstrates to the company that the shareholders are unhappy with the lack of progress and information.
RESOLUTION 1 – ADOPTION OF REMUNERATION REPORT The renumeration is reasonable for the BOD except they have done nothing for 18 months. I would vote YES
RESOLUTION 2 – RE-ELECTION OF A DIRECTOR – VESNA PETROVIC I don't know anything about her apart from she is the company secretary so I have no idea what an accountant brings to the PCL BOD at this exploration stage. Happy to hear other opinions on her usefulness. I would vote NO to her re-election simply as a protest vote.
RESOLUTION 3 – APPROVAL OF 7.1A MANDATE "approval is given for the Company to issue up to that number of Equity Securities equal to 10%"
This basically means that anything they want to consider related to PEL 87 they can issue shares for. They need a new landcruiser to get to a meeting to talk about PEL87 - approved. This is a special resolution, so it needs 75% of the votes cast. This is where we can actually make ourselves be heard without affect PCL. The company can always ask the shareholders when they know what they want the shares for. At the moment its just give up 10% of the company and we have no idea what we will use it for.
A strong NO vote from me.
PCL Price at posting:
1.4¢ Sentiment: Buy Disclosure: Held
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