If the votes of Gold Tiger Equities and Sandon Capital - who have supported the current board based on vote pattern whilst IGN incurred 9 straight years of losses totaling over $35m on $1.2billion dollars of revenue and the directors and employers of IGN were excluded from the vote, outside of this 966k votes of a total of 89.5 million IGN shares - only 1.1 % of total IGN shareholders voted against the two new nominees proposed.
On the remuneration report vote - 42.82% of IGN shareholder votes cast were against. Only 25% required for a first strike.
Hardly an endorsement by IGN shareholders of the current business plan or IGN Board in our opinion.
Digesting the update by IGN CEO Tim Moran presented at the AGM to see if any real change in order to realize the intrinsic value that resides in IGN.
IGN Price at posting:
7.5¢ Sentiment: Buy Disclosure: Held
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