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Ann: Presentation to General Meeting of Shareholders, page-16

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moosey

20,346 Posts.

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18/03/16

16:47

Post #: 17313825
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Originally posted by Samscout ↑

This presentation was hopeless.

Seriously what's going on here - yesterday I was prepared to cut the board a break in terms of disclosure due to contract with research bodies - but todays presentation was unacceptable.

Are these guys trying to deliberately hold the price down? I know that seems weird but how else can you describe it.

Note to board - in future presentations talk about company specifics, in particular why this company is better than the rest - I don't want to hear about everyone else in the business and how hard it is to find a cure - I want to see why you think NRT has the cure (or at least the potential cure).

Plus a couple of other points:

1) The chairmans statistics were misleading - most of those announcements came out before GK left and the capital raising. The issue has been the communication since GK left - not since the start of 2015. Cut the crap. Also you forgot to explain the small issue of the Confidently agreement with GK and why it was necessary - that's very important as it shows that you guys are prepared to keep secrets from the shareholders.
2) So both resolutions were passed - somehow these guys found enough yes votes to beat the no votes just as they did at the AGM, except this time there were almost 50 million more votes.
3) The first resolution I can live with, but we know a couple of big players voted no to the second vote - so who voted yes to the second vote - the way I see it can only have been NAB nominees or an undisclosed holder with less than 5%, except 5% of the vote is only worth just over 20 million. Which leaves another 30 million or so unaccounted for.
4) I am very suspicious about who's holding what and whether or not all substantial shareholdings have been disclosed - otherwise it can only have been NAB who voted for this. Given a couple of the top 20 voted no then I can see how else they got to 56 million.
5) My suspicion is also fuelled by the shorts - the volume of shorts has been greater than 4 million - that only leaves Heaton or NAB as the possible borrowers to the shorts. I'll presume Heaton's got better things to do than lend stock which just leaves NAB. Now why would you short when at any time the company could come out with something that could lift the company share price unless you knew that they weren't going to do anything of the sort.
6) Tie this is with the underwriting of last years 12.5 cent options with another Melbourne based stockbroker (NAB based in Melbourne) and you do wonder.

There's still 3 million or so outstanding and they started shorting in May last year - under the tax act you can only lend for up to 12 months before you're lending is treated as a sale and you're charged CGT - its going to be interesting to see if these get closed out over the next two months. If its the one lender then I suspect they will have to get a move on or pay CGT. (S26AB 1936 ITAA - I've got a masters in tax law)

I still think the company and share price might take a turn for the better but nothing today has indicated to me the board is working in the interests of the shareholders - if anything it would appear to be the contrary.

Please note everything above is just my opinion and assumptions and shouldn't be relied upon.

GLTA/IMHO

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I think we need to do a better job of organising ourselves Sam, we need one focal point who can use our voting power, someone who can collect all votes and act as our proxy, one central focus, there could be no hiding then, I am willing to put my votes forward if they pull any more stunts!
RBx?

Next AGM?

Last edited by moosey: 18/03/16

NRT Price at posting: 11.5¢ Sentiment: Buy Disclosure: Held
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