Ann: Results of General Meeting, page-16

@stlamc

I think our differences have primarily stemmed from our confidence in the NoM. If you felt the NoM had merit then board=credible and CEO=suspect, which is fair enough and I'm sure a lot of people felt the same way. I have always believed that the NoM is a disgrace, so board=suspect and CEO=credible (or at least deserving the benefit of the doubt).

I hope yesterday's ASX release helped clarify things for you. I was very pleased, obviously, that the new board confirmed what most of us already knew.

There were a couple more facts that didn't get mentioned in yesterday's release that helped form my position:

* The previous chairman sung Mr Ohanessian's praises at the 2016 AGM (refer to his quote in a prior post), indicating that there was no prior problem with his behaviour or performance and he expected the CEO to continue in the role over the long term.

* New chair Greg Camm has his own reputation as a difficult character and destroyer of shareholder value.

* The board said shocking things about the character of the CEO, but he at no time disparaged any of them. He has behaved honourably and professionally through what must have been a very trying time.

I hope that you will stick with the stock and see how the company performs under a quality new board. At the current share price it's a great buy!