Ann: Mesh Class Action Costs Order, page-8

Hey Billy and Thanks,
I have been petitioning as well. It is clear SHJ believe tax minimisation by overburdening WIP is smart business but it disregards shareholders who do not hold the same investment horizons as themselves. It is very poor board etiquette and they should be burdened with registered objections, remuneration rejections and more public awareness.
Simple Reality is they took WIP down from 12ish to 4 over estimating profit resulting in an over inflated share price, resulting in a class action they got clipped for. This 8% unjustifiable movement was when the WIP was about half of what it is now.
If it is unacceptable to over estimate Income by 16M, it should not be OK to underestimate income by $40M+ since the reckoning, however the system and governance do not seem to care about OVER reserving, even if deliberate and calculated.
Take everything out of the Equation. had SHJ stuck with 12% as per prospectus which was roughly 3% above historical averages and kept the sticky fingered board out of the sweet provision cupboard entirely then I believe SHJ would have an NTA of $20M+ more today and shareholders would have received $16M more income or, if they played scrooge and kept all this dividend the NTA would be approx $30M+ higher.
Provisioning is easy, its predictable, able to be monitored and in regards to SHJ has very few variables being really Acquisition, Funded Cases and Class actions all of which are quantifiable. If SHJ bought a book right now with $30MWIP @ 8% which I assume is probably standard market price, they would reduce the WIP asset by $3.6m which is lunacy.
Pressure must be applied to return WIP provisions to 12%ish and rules must exist to stop manipulation of these provisions without audit justification.
Can we DM here , lets exchange details and say hello.
Cheers
DB