Well Speccy,
You have obviously been involved with AML for a long time. Yes i received the shareholder letter and had seen such information mentioned on HC before. Probably you. The clarification of the incredible increase in Director remuneration shows the complete disregard and arrogance towards Shareholders. Director responsibilities of ASX listed companies are laid down in law and those that flout these standards are liable to prosecution.
The apparent collusion between OCP (32% SH) and AMLs collaborating directors is farcical.
Now the language in this last sentence does seem rather over the top and inflammatory but if the common shareholder is beginning to ask very disquieting questions and have a feeling of loss of confidence in HIS board where does this lead us. What options do we have.
Well first approach the Board to give them a fair hearing which has apparently been tried and ignored. Shareholders en masse quietly using their numbers might be a different proposition. Do we want to upset the board? ONLY if they are doing the wrong thing.
I do admire the acquisition of millions of shares by OCP without disrupting the shareprice OR ASICs ire for being way above 20%.. And that brings us to Option two. ASIC. Seems to be using its muscle more of late. If enough Shareholders band together and approach ASIC for advice i am sure they would have to adjudicate.
I wonder how many more shares the board will give OCP after the AGM. Its a race to 50%
I could also just be paranoid brought on by untoward discrepancies.
AML Price at posting:
34.0¢ Sentiment: Buy Disclosure: Held