Ann: Update on Corporate Review and Management Changes, page-478

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Barneydebear

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25/08/17

05:05

Post #: 26744622
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Originally posted by Gwaihir ↑

Did the original announcements stipulate a 6 to 8 week trading halt?

If so, and given the current length, does this erode any trust in the board?

Did the board set their own remuneration during the trading halt without shareholder consent or consultation?

Are some board members double dipping?
That is, are they getting paid consulting fees individually, and are they also charging consulting fees for their private consulting companies?

Perhaps there should have been consent by shareholders for the levels of remuneration, and funds subsequently set aside for 8 weeks, after which there would be no more funding for this exercise.

Hence shareholders would have then known exactly how long, and how much of their money would be expended.
This would have then become a fixed price exercise - as it should have always been.

Now the board also seem focused on rewarding themselves further with substantial incentive packages, and performance rights, while there also seems to be some intimation that the trading halt may be further extended for a new constitution, further draining the coffers.

How to ride the gravy train.

The world has been engaged in Lithium boom version 3 while this trading halt extends, and one can only suggest that greed has elevated it from the sublime to the ridiculous.

There comes a point where any reasonable person might be led to believe that this trading halt has gone on long enough. I have followed this up recently with a couple of consulting companies experienced in these kinds of endeavours, all of whom guaranteed a 6 to 8 week period would have been completely ample, and at a much reduced cost.

I'm not actually sure what is going on here now, except that the bank of BGS is being remorselessly raided.

I want to be positive, but I'm becoming a little disappointed in this performance.

Someone please reassure me that the wait (and huge current costs - and future incentive/performance costs) will be worth it in the end - Please.

Gw

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Could the delay in relisting have anything to do with the former Auditors refusal to hand over documents. Which PWC have now got to go back over and finalise themselves, because of Grant Thornton intent to sabotage the efficiency of review?!
If it wasn't an issue, PWC wouldn't be having to investigate such detail?.

BGS Price at posting: 22.5¢ Sentiment: Buy Disclosure: Held
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Ann: Update on Corporate Review and Management Changes, page-478

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