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Ann: Notice of Annual General Meeting/Proxy Form, page-8

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Indytrader1988

6,068 Posts.

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01/11/22

15:06

Post #: 64525813
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Originally posted by Golfer49: ↑

Agreed. However, think of the Board now though its pretty weak with the recent departures/arrivals. They can and should be should be independently reviewing the MD's performance and salary. Given the rotation of directors over the past year or so its Karl's way or the exit.

The AGM motions are a joke, with the Board looking for shareholders to ratify all previous share issues for businesses we didn't know about, with no statements from the Board how they are performing.
No comments from the Board to review/change the MD's rem as part of rem policy.
Propose two incentive programs which INCLUDE the ability to issue shares/options.notes to Karl. I'd perhaps be inclined to vote in favour of those if Karl was excluded and the ability to issue up to 110 million shares wasn't part of those.
The ability for incentive shares to be on foot well after an employee leaves - very strange and seems to suit a particular exiting CTO.
No statements that the $1.4m owed to the Company will be paid by 31 Dec 2022 - when it is due.
And then to top it off, the Board is looking to issue up 25% new shares (without recourse to shareholders as to why and what for) and decided that it can hold AGMs via video and not in person.

Some of the poorest corporate governance I've ever seen in an ASX company.

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Well said

LVT Price at posting: 5.9¢ Sentiment: Buy Disclosure: Held
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Ann: Notice of Annual General Meeting/Proxy Form, page-8

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