Unfortunately I have never been to a meeting as I live in Brisbane and have difficulty getting down to Sydney!
For whatever reason, the 'heavies' have supported management as a result of promises or expectations given - that never seem to occur!
We were advised that MT had made a commitment to reduce his emoluments by ~30% until such time as the plant was running and we were making money - not promises.
It would appear the undertakings by management have not been kept and in fact just about everyone has had relatively huge increases - with NO income.
It is important that we all vote against the emoluments in this upcoming AGM and I sincerely hope and trust that all the 'heavies' support this action.
If everyone does this it then gives notice to management that they have to perform with profitable outcomes and NOT promises.
Should we succeed and no progress is achieved in the following year then a second vote against emoluments etc. will force a spill of the board. We will then need to find suitable replacements.
It would be nice to be able to contact all shareholders to put this to them!
Let's hope that management come up with the goods and not more promises.
They have been supported by us for far too long and have not respected us as shareholders.
Regards.....................................
APG Price at posting:
0.8¢ Sentiment: Hold Disclosure: Held
