Hi The Pig Clearly you are still very bitter and IMHO a bit...

Hi The Pig
Clearly you are still very bitter and IMHO a bit twisted about ADN . Not looking to denigrate what you have said as I do respect you but I have made a few comments below for you and especially less sophisticated investors to hopefully put things in a better or more balanced perspective.


1. The Pig : "Understand what you're saying and I respect your opinion. But guess what? Our shares have decreased in value from mid-40c all the way down to 4c."

W2: Well lets face it there was a certain amount of hysteria in the SP reaching 40c so that is a problem for the people who overpaid based on very little progress at that stage. Struggle to see how that is even JM's fault. It would be fair to say that everyone was amazed at how the SP rose so much.


2. The Pig : "If JR's value has gone down then it's his own fault - not ours!! Shareholders are suffering as a result of his and the other's poor performance."

W2: Unless you are in the company as an employee or on the board it is not easy to make accurate judgements on how much any person or director contributed as you were not in the executive meetings or board room at the time.


3. The Pig : "If Bob had not come in and re-structured the Company what do you think would have happened in the end?"

W2: The majority of the work in restructuring the company was done by the Chairman Mick Wilkes and was completed well before Bob was signed up. I must agree with you that Bob has made a very significant contribution in realigning the sales allocations into more profitable product streams which will have a profound affect on increasing profitability once in production. This is a fantastic contribution and I am confident that over time Bob will achieve great things with ADN.


4. The Pig : "People always say why don't you sell out and go somewhere else and I always respond with this. That is exactly what poor performing Board members expect will occur! They know ASIC are toothless tigers and won't do anything to hold them to account so they keep on with their poor performance and shareholders sell out at a loss and go somewhere else. Meanwhile the Board keeps paying themselves premium salaries!!"

W2: No comment


5. The Pig : "No, I'm here to attempt to hold these people to account. My decision and if I lose money, it's on me."

W2: I think you will have more success if you "tone it down a bit" at the AGM. The approach you used at the AGM didnt achieve a lot. If you still have legitimate points of under-performance at the next AGM fair enough go for it but show respect in your delivery.


6. The Pig : "I'm going to ask each Director at the next AGM exactly what have they brought to the table since joining the Board. I voted against re-electing Melissa at the last AGM but was obviously out-voted! I'm positive that there is a plethora of better qualified people than some of the ones we currently have!"

W2. Good luck with that if you try it but thats not likely to succeed. I sincerely believe that way that the company has got its act together in such a short time, I doubt that you will feel that way at the next AGM. Mick Wilkes has done wonders getting the company reorganised, focussed and disciplined. Bob K. has been a made such an important contribution in a very short period. Just imagine how much can be achieved by the next AGM.

Cheers everyone and enjoy the weekend.....W2