Ann: NEW 2022 Annual General Meeting Date, page-20

"current management haven’t exactly put their money where their mouth is."

Hi Dsorg, Unfortunately it does seem that way. Here is point three of the write up from the group trying to change the BOD. I still haven't decided which way to vote but the current BODs lack of "skin in the game" has annoyed me for years. I wonder what the average price the two proposed directors paid for their 32,150,000 shares? Even if bought at today's prices that would mean approx. $380,000 which probably explains their eagerness to get a seat on the board.

3. BOARD'S TRIVIAL SHAREHOLDINGWe believe it’s imperative for the Board of Directors (Board) to be aligned with shareholders, holding sufficient equity to demonstrate confidence and faith in the clinical programs and strategy. This is not the case with LCT. The Board currently holds 2,624,809 shares (0.15% of the issued capital). This is approximately $34,123 at the current share price of $0.013 per share. The incumbent Chairman, Mr Bernie Tuch holds 61,335 shares, a grand total of $797.We do not have confidence that this current Board will deliver an economic return for shareholders with such a trivial holding in the business they are directing.
The two proposed Directors already hold 32,150,000 shares.


Just in case some interested readers have not read the write up from Bernie, Andrew, Robert and the potential new directors they can be found in Annexure B ( page 98) of the notice of AGM.

Here's the link: 02575234.pdf (iress.com.au) To the notice, then go to Pg 98.