I have just watched the 5 minute video; I would encourage everybody to do so.
Being a local, I have attended the last two AGM’s, one as an observer and one as a shareholder. What I have personally found incredibly frustrating during these meetings is that attendees are bombarded with presentations, one after the other, almost to the stage that by the time question time comes around; you’re completely over it and are just thinking about the well catered for coffee and cake waiting for you in the foyer.
I note that the AGM will be held in three different venues simultaneously in Brisbane, Sydney and Melbourne. If I could make a suggestion, why not just one venue and podcast it for the ones that can’t travel. I would much rather see them do an investor presentation during the year, perhaps after the half yearly results, in the major capital cities. Save the AGM for its real intended purpose of members being able to question the board. Just my thoughts! Southerners might see it differently!
It seemed amazing that Mr Rivas was prepared to forgo 2 million performance rights. Does anybody out there think that he would be forgoing $2.6M if Lev was not agitating? Mr Rivas has a legal entitlement to that benefit. I personally believe Lev is already saving this company money by agitating on shareholders behalf. Thank you Mr Rivas for your donation back to the company, this shareholder appreciates it! I look forward to Mr Rivas playing a pivotal role in the future.
I would however like to know who signed off on such a generous performance rights deal in the first place. I know the way Lev operates, he is generous to a point, there is no way in hell that he is not going to give one person who is already on a very generous salary a $3.9 million bonus for sticking around for three years and meeting some targets. That’s not the way Lev does business. This is not a bank with billion dollar profits; this business is about debt collecting, in the old days it was done with baseball bats. Do our executives really need such generous incentives?
When I called my EGM, Lev was annoyed that I was putting the ANO shareholders to an unnecessary expense. Notice that with Lev, he aligns his EGM motions with the holding of the AGM. That’s his mindset, he doesn’t waste shareholders money! It’s not in his DNA!
CLH Price at posting:
$1.55 Sentiment: Hold Disclosure: Held
