Looking at unprofessional, then you have to look no further than the last notice the company put out, The results of the AGM
Resolution 4 was the issue of 37,200,000 shares. These holders cannot vote. Total votes excluded from this vote is 34,939,559. Any holder issued shares in this issue cannot vote with shares they hold previously or their related party (husband/wife etc). The total excluded didn`t even match the number issued!!!
Resolution 2 was the election of Paul Duckett. The number excluded =0
But when we get to resolution 5 which is the issue of shares to Paul Duckett the number excluded is 54,203,087. The only person excluded from resolution 2 and 5 is Paul Duckett yet there is a 54 million share difference. Only one of these resolutions excluded the chairman and his related parties votes.
Resolution 3 is the election of Chris Egan. The number of votes excluded is zero yet his wife and daughter got 6,000,000 shares issued in February and were part of resolution 4 and Egan held his own shares prior to the meeting.
If any shareholder thinks that the amount of votes against the resolutions at this AGM were correctly counted also then go back to the top of this post and re read until reality hits you.
Such was the amount of votes against this board they had no choice but to admit a strike against the remuneration report.
Resolution 4 was shares issued in February 2018. The AGM was for the 2017 year yet an attempt to issue 40,200,000 shares were issued 3 months after this meeting should have been held. 3 million of these shares now have to be cancelled because they were against the listing rules and you can bet there will be many more in the future as investigations continue by the regulators.
There is such a dead smell around this board, it just makes your reach..
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