I have justread both pieces and agree with the general sentiment. However the Incumbent Board have continued to repeat the same list of bullet points several times throughout the document. These are the same bullets points that they have used in the last few announcements – do they not have anything new?
I also notewith dread that the new 5-year strategic plan that they keep waxing lyricalabout has been “endorsed by the Board” that is the same Board that has wipedmillions off the value of the company – hardly a ringing endorsement!
The ‘keydirections’ from the new 5-year strategic plan include wooly statements of nosubstance that include:
-Balancinginnovation and returns.
-Achievingpurposeful growth and deliver a competitive return
Is thisreally what Shareholders should be relying on?
TheIncumbent Board have also failed to evidence how they have performed againsttheir last 5-year strategic plan – presumably it hasn’t gone as expected!
Referenceto “momentum” will be interesting to see – maybe they can release the figuresfor July and August to back this up?
Regardingthe Requisitioning Shareholders – I understand that they were limited by theamount of words they could put forward. However, in their limited word count they have at least put forward some actions which they can be held to account on.
The IncumbentBoard also make a swipe at the Requisitioning Shareholders “Advisory Board topurportedly save “hundreds of thousands of dollars” on consultants is flawed’’.However, whilst they state this several times, they never explain how it isflawed….?
This is anawful mess, but I keep coming back to the fact that the Incumbent Board havebeen at the helm for a long period and wiped significant value from the companywhilst continuing to line their pockets with excessively highrenumeration.Maybe change is in order.
(20min delay)