Well, for any who don't feel 100% confidence in the board, here is your chance to make your opinion count. > 25% of the vote NO on resolution 2 required to change Mgr Dir.
I will find it difficult personally, to vote to re-elect the director stated as being responsible for all risk management decisions ( i.e. who to loan unsecured monies to, and hence the resultant $300k + loss in the form of unrecoverable 'secured' loans, and ongoing unsecured loans to company directors to enable them to Buy & Sell property. i find it difficult to see how these interests could be wholly independent of each other and in no way conflicting) The Mgr Dir's (Copmany) also received a further $100k in Coproate Consulting Fees for unknown services in the to June 2014 period. I sure will also have a problem voting for the remuneration report acceptance, but, either way, even if everyone votes against the remuneration report the directors are not obliged to act on the vote, and we know how they feel about Coproate Governance Recommendations...... not obliged/exempt.
If you struggle to justify why you would re-elect the Mgr Dir for another 3 years, then Vote NO on resolution 2.
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