Basically the ASX is questioning their entire existence. It’s quite telling how they now just drop all of these new variables & requirements (that must be completed before recompliance is even sought) into the Annual Report, having (imo) missed every other key timeline they’ve ever given us.
But I’m sure the spinners & defenders, each with half a dozen posts to their name, will all pop by tomorrow to berate us on things like...
- we should stop complaining and instead view this as a non-interest bearing term deposit or a ‘green future’ social equity bond;
- endless trading suspensions spread across financial years are quite normal and it is in fact good for us to be deprived of our capital;
- HyEnergy will reward us all handsomely sometime next century, at which point it will still be at the forefront of the nascent green hydrogen industry;
- ASX didn’t force the recompliance on a half asleep board, rather it was a decision “mutually arrived at”;
- a big pocketed energy supermajor like Total was never an ideal partner as they were slow & cumbersome and quite bossy and simply didn’t understand our complicated native title tenure issues in Australia or have any ability to engage with governments;
- another major partnership waits in the wings, and another after that too;
- as a non-executive director, Kylah Morrison’s cash fees & settled equity of $414K this year (after getting $362K for same last year) is not at all unusual;
- Pat Burke is simply misunderstood; and that
- David Frances is now grossly underpaid at a mere $1.1m (after last year’s $2.53m total remuneration package including equity). We’ve sold him short.
Perhaps we should hire the real Mickey Mouse from Disney to attend the next annual meeting to greet his impersonators.
And has anyone located yet this referenced section that was highlighted (yellow) in the Auditors statement (which also draws attention to $1.79m in share based payments to a 4-person board), and if so, what is the “matter described”?
(20min delay)