Agree with what you say and would add that as the "financial...

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30/10/14

23:11

Post #: 14211820
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Originally posted by Cubism ↑

2.75B shares on issue and 2.04B unissued is unattractive to new and indeed current investors.
I am not opposed to the share consolidation and expect there will be another at a later date, nor am I opposed to the name change as Ord is certainly a tainted brand. I am however opposed to the timing of the brand change given its cost at a time when all spare cash should be spent on pre-production activities, including those that count towards the next $1M spend for a further 15%. The decision to change is warranted but the timing is commercially inept.
Notwithstanding all resolutions will undoubtedly be accepted by sufficient shareholders, I will vote "against" the issue of shares to Frank but vote "for" Bruce and Sean. Bruce seems to give a great deal to the company for little return and additional shares for his efforts are justified. Sean is new, give him time and some share incentive. Give Frank nothing; he earns $410k per annum and I believe his contribution and value is worth half of this. Secondly, why reward someone who has overseen the dilution of our shareholding whilst at the same time accepting no responsibility for a demise in the share price under his watch, from 3 cents down to .002 of a cent? That translates to a drop of some 14 times its value over the same period. A "no" vote can at least be registered and it will be announced during the AGM. The board needs to know we are paying attention and are dissatisfied.

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Agree with what you say and would add that as the "financial report" is a special resolution and as such needs 75% of the cast votes to pass and this also sends a clear signal that SH are not happy.

VAN Price at posting: 0.2¢ Sentiment: None Disclosure: Not Held
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Agree with what you say and would add that as the "financial...

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