I have asked the website dudes what happened to any questions not getting through to the ffxshareholders.com.au portal.
All 3 proposed directors have agreed to a reduction of fees of between 15% - 25% to the current fees being paid to the board.
Example:
Current Director Fees have been reduced in line with cost savings as per Lowes Managing Director Letters
Hepburn & Gordon (NED) reduced from $95k - $60k
Fraser from $160k - $80k
All 3 proposed directors will be personally available for communications with shareholders versus none of the current directors unless through Citadel - Magnus (one of the costs that IMO will be looked at)
Other details? The proposed Board could not be reasonably expected to make/suggest cost savings or give an estimate to what outgoing/incoming costs could be without actually knowing what the current situation is with contracts?
I'm glad they have demonstrated some cost reductions (albeit a little late) but it may be needed now that they have engaged Clifford Chance (international law firm) to represent the Company in "good faith" discussions with the Mali Government.
cheers
As pervious "removing from proposed directors dialogue"
- Forums
- ASX - By Stock
- FFX
- Ann: Important Voting Reminder
Ann: Important Voting Reminder, page-42
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