The notice of AGM and resolutions arrived in the mail today and I would be interested to hear whether other shareholders think the resolutions are in the best interests of the company.
Resolution 1: Re-election of Justin Brown as director
Can anyone tell me how these guys have added value for share holders?
MZM has had the advantage of a small and tight share register and strong cash holding, yet the company has continued to go backward. Other similar companies with very little cash have managed to multi-bag during the last year or two.
Resolutions 4 - 6: issue of options to directors
Reward directors with an additional 2 million five year, $0.20 options to directors (or 143% of VWAP in five days prior to meeting).
IMO it seems to be a lazy incentive for directors to get the share price back above $0.20 by 2021. Personally I would prefer to see some runs on the board before approving new low ball options.
Directors already hold about 12.75 million incentive options with exercise prices around $0.35.
The notice of AGM and resolutions arrived in the mail today and...
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