I think it's obvious why resolutions 7 & 8 were withdrawn, management has now accepted that shareholders do not want to pursue an acquisition strategy that risks diluting the company during a period of substantial disconnect between Company value and Company share price. What may have made sense when the share price was 10cps is suicidal at 1cps.
The revitalised management team is now doing what should have been done a year ago and focusing on organic growth opportunities, continuing to cut the unnecessary fat from the overhead cost structure and pursuing higher margin revenue instead of revenue that actually reduces free cashflow.
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Ann: General Meeting 28-Jun-23 Voting Results, page-6
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