Hello all
Went to the AGM and here is only an adding to the previous posters that attended.
Firstly I will say that the Directors wanted to clear the air with some explanation as to the problems they have faced and also addressed the criticism they receive on here.
Now take into account that at this AGM they put the S.J. presentation before Questions from the floor.
So, the Four Directors had their say ( not usually included in an AGM. imo) about their difficulties and then the S.J's Presentation. . imo
So you can understand the limited time (which J Dunlop ended at his discretion) we had, to ask questions and believe me I had a hundred more to ask. lol
So
The First strike is upon the Directors and that tells them they have 12 months to show their capability in progressing AGS into added value for AGS's shareholders. Albeit they surely are working from a low base. imo Also it can be argued that they have had considerable time(years) to do that before now
I also believe IG retained his position because of his vote. Correct me if I'm wrong?
The Mining development area is undefined by H/Q. I asked what would AGS have when, IF their 25% reduced to Zero percent in 2026 for the Mining Development Area.
Answer from JD, 25% of all other areas but when I asked what it specifically was, he said 25% of something or 25% of nothing, meaning, the BBros control. imo
As the others have mentioned about the situation with the Mining DA and reduction in the percentage,
It is reviewed each year, so I'd probably suggest the best we have now is 15% going forward for the present.
The game changer is the latest court challenge. Will it stop the 25% becoming 15% I cant answer that.
One important thing, I believe, is that AGS has a buyer and a price(all but locked in) with the Deloitte Process imo Based on a prepared valuation . Its all ready to go once the Court decision is finalised and its favourable to AGS. (appeals could follow with any decision).
But it is one option and may not happen. Management told me they will weigh up all options available and act in the best interest for AGS going forward. imo
Management told me and I wont be specific with the persons name but the BBros are not interested in buying out AGS's 25%, they would rather take it off them, which as it seems they have 10% off us now imo
Anyone who ever believed that AGS was or is in negotiation for a Sale to the BBros, think again. Anyone who ever believed that there was some negotiation to end the M&D C Matter for any advantage to AGS. think again.
The BBros want to destroy AGS that's the Game as told to me by Management at this latest AGM.
Do I believe them or some posters on here who claim that negotiations happened.
The only way we can put this argument to bed is for those who believe that AGS gained some advantage with the Discontinuance of the M&D C Matter is to show how they arrive at their position. If it has come from a Director, name that Director?
Otherwise its misinformation, posted on here.
It was made fairly (very) clear yesterday that the M&D C Matter ended in defeat. imo
As earlier in my post, if AGS has not advanced from the position it is in now, then it would appear,come the next AGM, to be curtains for our Management. Two strikes and there out.
I'd like to see them succeed and overcome the BBros, but its up to them and the task is great. imo
I'd also like to add that although there were a lot more Shareholders present yesterday it still was not attended by enough. I know that work constraints may be the problem but getting your information from the Horse's Mouth rather than on here is more beneficial to the individual shareholder. imo
Good Luck All
Md
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