Ann: Notice of Annual General Meeting/Proxy Form-GMC.AX, page-144

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Ashod83

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03/11/16

08:50

Post #: 20331743
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Originally posted by betheball ↑

Hi All

I just received an email from Donna, dated Wednesday, 2 November 2016, and I have removed my details for privacy reasons.

Dear <>
Thanks for your interest. With regard to your question on dividends, dividend policy is an issue for the Board of Directors. As a new Board appointed this year, and without as yet any revenue stream, the Board has as yet not made or reviewed any policy.
Thank you for your ongoing support.
Donna Whittaker
Executive Assistant & Investor Management | Gulf Manganese Corporation Limited
-- end of email

-- my email reply
Thank you Donna for replying.
re: dividend policy is an issue for the Board of Directors
I agree.
re: without as yet any revenue stream
As a shareholder, I would not expect a dividend until the company was profitable.
re: the Board has as yet not made or reviewed any policy.
So therefore, we can assume, as per the old website, that the policy concerning;-
Robust dividend policy with 50% of profits to be distributed
still stands because using your own words 'the Board has as yet not made or reviewed any policy'?
Here is a link to the old website;-
http://web.archive.org/web/20150723013434/http://www.gulfmanganese.com/
As an investor, I have been buying GMC shares, for many reasons, one being this policy. To have it removed or amended without a formal explanation is very disappointing.
If the Board of Directors decide to remove or amend this policy, will this information be communicated to the shareholders/investor community?
yours sincerely
-- end of my email

IMO Perhaps anyone who is interested in this policy, communicate their feelings to GMC. The contact email is available on their website.
GLTA

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I got more or less the same response from Donna yesterday as well. I dumped my shares based on that response as well as it being too uncertain with Paks money. Bigger fish to fry I might come back in at a later date. Good luck everyone!

GMC Price at posting: 2.0¢ Sentiment: Buy Disclosure: Held
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