It’s certainly not my intention for the company to incur any further costs.
Unlike Mr Acton, who owns zero shares in Antaria, I own over 10 million shares. I am very comfortable with my remuneration being in the form of an increased share price and dividends paid to me as we grow our profits. The issues with the board composition have never been about trying to get Director fees. I do not think it is an unreasonable request to regain some balanced shareholder representation at the board level, rather than 3 guys who are all hooked in together. It’s the basis of what good governance is founded upon.
I for one, will be asking Mr Acton at the EGM if he intends to receive further financial benefit from Antaria (beyond fees as a Director, and fees as Company Secretary) such as he receives from AstiVita Limited and Tamawood Limited.
If you read the AstiVita Annual Report 2015, on page 39 you will find that AstiVita has paid money to Mr Acton (in addition to fees as a Director) through ERC Traders Pty Ltd which it describes is for “Administration and payroll processing services provided by an entity controlled by Mr Acton”. There is a similar statement in the Tamawood Report.
I will also be asking Mr Acton at the EGM, why a man of his experience would agree to taking a reduced Director fee when he has no financial ownership in the company?
In regards to what I might bring to the board, first and foremost, this is about independence and oversight - I will be looking out for your interests and mine. I just want this board, particularly at this unique time in the company’s history, to be making the right decisions. Remember, Mr Warwick Carter, formerly Antaria’s General Manager no longer works at the company, and I’m not sure we have any management left. Actually, I understand about 5 out of our last reported staff team of about 10 have left within the last few months and we are a long way off from relocating anywhere yet.
In addition, my background is in product marketing and sales. I see this business as a sales and marketing business at the heart. We need to drive our product in a very competitive marketplace, where image and market perception is everything. We have very astute financial accounting experience available to the board within Mr Rade Dudurovic. I disagree with the board’s statements that we would not have these accounting skills if we do not appoint Mr Acton - we have them in Rade. I’m not an accountant, but I am certainly a businessman who has worked with all levels of business from startups to global public companies. You could argue the very same back that the current board lacks enough product marketing and sales experience. I will remind you that the board has been dipping their toe into this area such as the recently revealed ZinXation product. I will let others share their own reviews or feedback on that.
I’m happy to talk to anyone who wants to know more about me, my history with this company, my intentions if I was to be appointed on the board or anything else you want to discuss. Just let me know.
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