Evening everybody.Bluecell. Well put.It was an expensive ticket...

Evening everybody.

Bluecell. Well put.
It was an expensive ticket wasn't it and I even had to leave a smidge early.

Meeting was chaired by Penrose.
An independant lawyer who I happen to know personally.
I thought he did a great job and kept control of all the egos.

Proxy voting on all resolutions was around 209 million for and 166 million against. Rusty made it quite clear that his votes from Riverpark Investments were yet to be included in the count so not sure how final numbers wouldv'e stacked up.

The final resolution about available money for directors wages being increased by 50% looked to struggle to get over the line but it was very misunderstood.
What they meant was that they wanted to have more money available for when they appointed new directors.
There was to be no wage increases as such.

Apart from displaying their spectacular suits, I got the general feeling that Rusty and Fitt were there to throw weight around and try and win shareholder approval with big words and questions designed to corner.

It sounded more like one of those well rehearsed Mike Willesee interviews, designed to nail the guest before they even start.

Olly seemed pretty impressive and more than willing to take it to Rusty and Fitt. Never took a backward step and absolutely zero signs of intimidation.
After just a short time on the board however, the poor guy is clearly miffed with the in fighting.

It was confirmed that a cap raising would be needed and that all shareholders would be given the opportunity to be involved.

All in all, I came away from the meeting a little underwhelmed.

I wouldn't be at all surprised to see quite a bit of selling tomorrow. The question is, will team Rusty be there to mop up the offerings.


Gottawaitandsee...