No doubt about it. GTT are in this one up to their eye balls....

No doubt about it. GTT are in this one up to their eye balls.

I'm interested to see whether they try to put any positive spin on the vote result when they announce the new board members, or just show complete arrogance by announcing the new board and not commenting any further on the reasons for the vote result.

Charles Thomas, Patrick Glovac and Rocco Tassone still control almost 16M shares between them, as per the most recent change in substantial holder notice on 19/1/17.

I've highlighted their holdings in the 31/3/17 top 20 below. The register is weak, so they would have had to approach a fair number of people to get the 50M+ no votes for yesterday's meeting. Between them, the top 20 hold only 78M shares.



It makes absolutely no sense to install the new board and then vote them out a few months later. The average shareholder would be happy that 4CE appear to be making some (slowish) progress with drilling and would certainly not be concerned with the calibre of individual they attracted to the new board.

Mark Darras is pretty clear in his Chairman's Address that there's a divide between the newcomers (who "are men of strong principle and ethics") and Patrick Glovac.

And now that strong principle and ethics is all gone and us shareholders are left with Patrick . And who orchestrated the no vote???