It is sickening to watch this company so clearly under performing and still with executive management taking their full pound of flesh from investors.
There is a million bucks a year (2017 annual report) going to half a dozen drop kicks who are not getting any market penetration or sales. Your average hairdressing salon on High St earns more than Norwood but doesn't need four guys on $200k+ each (and million of dollars in options, not that they are worth anything now).
Holla, you do have the right to call management to account. You do have a direct line. I don't know what your holding is but if you do know some of the top holders you only need 5% of shareholders to call a special general meeting. Mr Yogi has 2.5%, maybe you have 1% I don't know, get a few others with 0.5% each. You can organise a small coalition and make a few demands, get some explanations or threaten to call a SGM and put some awkward items on the agenda.
Now PO and his companies own a lot of shares in the company so it would be very hard to force any director out or have any resolution passed without help from the instos at a vote. But with 5% you can put resolutions on the agenda and move for change. It may be fruitless but you have some power.
I wouldn't underestimate the number of angry holders, I'm sure the management would be keen to listen to you rather than risk a public spat and a call to arms in an SGM to clean up the fat cats on the board.
NOR Price at posting:
0.5¢ Sentiment: Sell Disclosure: Not Held
