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Ann: Chairman's Address and Presentation to AGM, page-26

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Harry3539

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16/11/17

17:57

Post #: 28864892
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Originally posted by Esteve ↑

Tea, coffee & water but no biscuits! Responsible decision making with our money. Maybe 25 punters present, maybe less without the Solicitors and Auditors.

Chairman's Report read to audience.

There was some argy bargy over how resolutions would be resolved, with a discussion with the solicitor present over show of hands or Proxy listing. And while in the past there have always been numbers put on the screen for everyone to see the vote that had been received to that point, this was not done. Eventually we asked that the voting numbers be given to us.
If you all remember last year, Mr Bouris resigned a few hours before the meeting when he clearly did not have the numbers - did not want to have the embarrassment of being dumped.

The Resolutions were all carried bar one - the re-election of Alan Studley.
The vote in his case was approximately 171M for & 329M against. As those numbers were almost entirely known prior to the meeting, I am perplexed as to why Alan attended and sat with the Board. Perhaps the "show of hands" was a ruse, perhaps it was to prove a point - a mystery that will never be unravelled.

For Geoff Cumming is was 442M for & 48M against.
For Matt Sanderson it was 407M for & 47M against.
(Approximate figures all).

The Chairman made an impassioned statement reiterating his "skin in the game", and that we were now without the most qualified Director and our Chairman of the Audit Committee, and he was bitterly disappointed from the work that he & Alan had done in the period up to the Diasource sale that could not now be continued.

It was pointed out that we now had just two Australian resident Directors. He confirmed that he would soon return to the US. At that stage he closed the meeting and after he sat down for a while asked for questions - very unusual in so many ways.

Alan Studley spoke about his feelings and concerns and then Joe Maeji explaned why he stayed away from Board participation and then gave a warm thank you to him for his honesty and commitment.

And so endeth the party.......

Unfortunately I have a feeling this disruption is not over yet, but it is certainly a fresh start with better focus on the core Anteo technology that has potential across so many industry areas going forward. I had a quick chat to Joe after the meeting - he is very energised towards further development - one of the critical reasons that I have remained with the ADO "faith" for over 10 years.

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were now without the most qualified Director and our Chairman of the Audit Committee, and he was bitterly disappointed from the work that he & Alan had done in the period up to the Diasource sale that could not now be continued.

Well now, who's going to keep the clowns in check for the next DIAsource deal.. I'm thinking the
next deal out there with the sharks in Battery World (let alone our venture into China World)

Don't vote for Studley because he won't make the share price go up ?

ADO Price at posting: 1.4¢ Sentiment: Hold Disclosure: Held
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