Yes Bourie....the Chair, Paul Harris, whilst not specifically...

Yes Bourie....the Chair, Paul Harris, whilst not specifically acknowledging a presently crap share price, did reference the yo-yo pricing....hence his referencing of his aim to get HFR on the indicies....and to do that he argued that the introduction of institutional and lots of other big investors was paramount ......and he was cock-a-hoop that such serious investors are lining up to get into our good thing.....let's hope that that enthusiasm is leveraged to have the newcomers pay heavily to join us......he sees the diminution of HFR day-traders and the rise of actual real investors with the stability that that brings (together with a steady upward trajectory).
With all of that heavy stuff at the front of his mind, Paul appeared to have some difficulty in seeing a viewpoint that his (and other Directors') role should also embrace a responsibility to look to small shareholders' particular interests including the issue of options to them (us).....this manifested itself in a spirited defense of options issues to Directors...it was made clear from the floor that the push for shareholder options was not a move against Directors (and staff) having options, but a move to have us sharing in a similar (but modest) benefit....his response included the claim that the issue of such options has a diluting effect over-all and so may not actually be in the interest of those (small) share-holders...that argument withered a bit as it dawned upon the meeting (and, I believe, upon Paul) that that view was obviously not given much weight when applied to in-house option issues. (Like the Directors...I'd like to risk diminution for the chance to have access to options...the other counter argument was that the Directors invest their labour into the company, but that is offset by our investment of capital into the company...you need both labour and capital to be appropriately rewarded.)
As said in yesterday's post, what you read yesterday and now today, is my take on the meeting...ie the"vibe"...if it misrepresents the situation, I apologise but I've called it as I see it with the disclaimer that this platform is, afterall, for discussion/opinion.
Phew! That was all a bit heavy first thing in the morning.....finally, I emphasise my respect for HFR's Management...well done.
Yours in let's-hear-it-for-the-little-guy optimism....Al Dinga...cheers ps: my buy sentiment should be in neon lighting..cheers again.