After various shareholders have had conversations with instos, advisors etc, it has become abundantly clear that there is a major disconnect between our Tier One resource and the mgmt/BOD who are not perceivedto be anywhere near up to what is required for them to be able invest in Lindian .
Unfortunately IMO, the Chairman has been ,and is still trying to run Lindian in his best interests like his private company/play thing?
IMO he recently made a major mistake in appointing other “Directors” from his inner sanctum of friends and associates.
As a result, the mgmt/Board is seen to be “the butcher, the baker and the candlestick maker” instead of seasoned industry professionals with a proven tack record befitting a Tier One resource.
There is even a rumour that the Chairman’s sister is paid to do Lindian’s book keeping - surely this can’t be the case? (ASX?)
For all of us shareholders desperate for a re-rate in line with our resources huge potential, we need to have appropriate management but this unfortunately is normally difficult for us mere shareholdersto influence.
However, we have an unusual, time sensitive opportunity, at the coming AGM as the Chairman is up for re-election (i.e. this only happens once every few years).
I can see no other way to fix this than by voting him out and I believe many others feel the same way?
I would probably be OK if he were involved in some capacity but not in total control as he is now.
If we want a significant rerate, we need instos to come on board and this will only happen if we have a Board that meets their criteria.
I believe that the same applies to funders.
Finally I’m sure that AK knows he’s going to face a major shareholder backlash and is desperate to try to save himself and put a funding deal on the table before the AGM, however personal desperationdoesn’t normally equate to doing a good deal in the best interests of all shareholders?
Shareholders have this one significant opportunity to improve our lot.
Votes have to be in by 2:30PM on Sunday, NOV 24.
Otherwise, we’re all probably caught in a losers' “Directors Lifestyle Company” which will never realise its true potential.
If you want to see what the future could look like check out the Chairman’s other company VRC on HC where you’ll see many shareholders constantly complaining about being caught in a company which seeminglyonly exists for shareholders to pay for the Directors' “Gravy Train”.
For once, shareholders have a chance to influence our own destiny - let's not waste the opportunity?
(20min delay)