Like majority of my stock here is my voting on the proposed AGM votes.... I request everyone to vote even if you have 1 share please vote as every vote count.
PLEASE DO NOT LET YOUR VOTE GO TO PROXY ELSE THEY WILL VOTE HOW THEY PREFER BUT INSTEAD YOU READ THE NOTES AND VOTE DIRECTLY TO WHAT YOU WANT TO SUPPORT.
I VOTE EARLY TO GET MESSAGE TO MANAGEMENT EARLIER.My vote below, is personal opinion and not personal against any BOD but simply my opinion of what i support and what i don't. This is very important AGM as it will define how and where company will move in future so please read explanation note provided by company in attached announcement and vote according to what you prefer to support.
Some reasoning around my votes:
Resolution 1 - Remuneration report - Rejection - AGAINSTNO KPI is provided or I could find in remuneration report which demonstrate how providing free options/stocks as remuneration to certain employee/CEO/BOD will enhance shareholder value creation.
If you are one of those retail holder who don't bother reading report, please read and tell me where / what are the KPI CEO & Others needs to achieve to get free options/STI/LTI ... and how those KPI creates value for shareholders...
Resolution 2 - Re-election of Jason Gomersall - FOR Resolution 3 - Re-election of Chen Chik Ong - Against Well, share price deteriorated quite badly even though some good business were acquired so on that basis I don't support it.
Resolution 4 - Re-election of Stephe Wilks - Against Stephe is chairman of the company called 1st and there is no way i would support with this history even though he may not be responsible for this share price performance i believe he can spend more time taking that company to better place before joining some other business in my opinion. nothing personal just opinion. Jason or Brent could be better Chairman candidate in my opinion for VN8.
Resolution 5 - Re-election of Brent Paddon - FOR Based on company announcement Brent was co-founder of company called OTW and IT graduate (education that i would support for IT/Telecomm business then lawyer or accountant).
those who don't know then check out below Steller price performance of OTW.... what surprised me is why Brent was not selected as a Chairman????
Resolution 6,7 & 8 - Rectification of shares issued for business acquired - FOR
Resolution 9 - Issue of performance rights to Matthew Fahey - AGAINST
In my opinion no freebies if shareholder value creation KPI are not disclosed in the proxy form. I couldn't find it but if anyone here can then please let me know. Matt comes with massive experience and already owned lot of stake in company so any further simply not worth if KPI are not disclosed on what shareholder value he will create for those performance rights in my opinion.
Resolution 10 - Approval of additional 10% placement capacity - AGAINST
This is very very tricky one and i reject it for every company i hold. The reason being company already allowed to issue up to 15% of additional shares without shareholder approval so this 10% if approved will take company's ability to issue 25% additional shares (means more dilution) and I believe if any equity raise is required then management must go back to shareholder asking for approval... else sometime (not always) there is risk that company simply walk to their INSOT mates and give them those extra shares and raise fund and us retail holder get big thumb so I personally don't support it.. company already has 15% additional placement facility if they needed so no need for additional 10% facility without shareholder approval from me.
Resolution 11 - Replacement of constitution - FOR
I couldn't find anything that deserve rejecting this but if anyone here do find it then please let me know.
