Graham D chaired the meeting, resolutions passed, meeting closed.
No Chairman or CEO address, no intent to give a presentation.
A shock, given the prolonged suspension from trading, and little news.
apparently the Chair is intent on improving communication with shareholders. IMO this AGM was a poor start!
However, while it did take some extraction over about 3/4 hour, we did get some answers and Im feeling more confident than when I started. Im taking solace in a perception that the execs and directors are inexperienced in running a public company which is a challenge, but are getting on with the business.
There will be a series of Q&A posted on the website, so I won't double up and will only add from my summation:
1. There is plenty of business, but the company is limited in resources so are prioritising nearer term revenue (reasonable strategy)
2. a key achievement has been to secure the Hollywood content which is not granted lightly because of the importance of confidence in the security (tick for TV2)
3. Chair not prepared to be drawn on FY projections but he stated in terms of contracts he is, quote "very positive...markets are large and the partners are significant...think we are on the cusp of good results"
4. While the company will entertain leads, there is enough work to sustain. There is now a shift to execution of contracts, quote "we now get to do what we are good at, which is to stream our content with partners"
4. Announcements can be made during suspension (and I suspect they will be)
5. Regarding the suspension issue, the information has been signed off and ready to be presented to the Court. It is expected to be resolved before Xmas. IMO don't let this ASX "anal" process cloud, the business of the company which does appear to be going in the right direction.
Patience is a virtue and can be rewarding!
