This group of shareholders want other shareholders to take them...

This group of shareholders want other shareholders to take them seriously, but can't even be bothered with putting up a really basic website with some additional information (after actually asking people to go there for more information). What a joke.

Interesting reading their letter, which appears to have a number of wishy-washy assertions (and a very short memory). It aims to serve their story, but doesn't accurately reflect the history. They claim a conflict of interest without detailing any, and claim a free carried interest, but doesn't actually take the time to do the full analysis (including the time prior to the company being listed). Nor does it reflect on the time that Mark F (and Mark H) both loaned the company money when it needed capital, rather than do a dilutive equity raise. This was in a better interest for the company and other shareholders rather than themselves.

Given the Board structure, anyone who thinks that Mark is controlling the board is kidding themselves and has absolutely no Board experience.

Mark still has 8% of the company, and as founder and one of the largest shareholder will skew towards receiving support from shareholders. But for this matter, it will come down to how Regal and Thorney are thinking about things and whether they thinking kicking the founder and/or strong NEDs off the board would achieve an increase in value of their investment. Hard to see how anyone would think making this change would be positive.

To be honest, I really thought that with the two new Board appointments, that the requisitioning shareholders would have withdrawn their meeting request. To me, that was the logical thing to do, but no, they went ahead.

I recently purchased more shares taking advantage of the tax loss selling from others, and I think the next 12 months are actually going to be very good for the company. I'm a very long term holder of these shares. I do have a complete free carry and have a very low average entry price, so the short term fluctuations don't concern me at all. Yes - I would love the price to be higher than it is now (and I think it deserves to be), but I can't control the share price, and neither can the company.

Cheers
Marv