Firefinch Limited has posted the date / agenda for the Annual General Meeting on the website.
https://firefinchltd.com/https://firefinchltd.com/wp-content/uploads/NoticeOf2024AnnualGeneralMeeting27Sep24.pdfOne piece of the letter that was submitted by Matt Mitchell that the Company has "desperately" or conveniently decided not to mention!
*** Why are they so hellbent on keeping out a new set of eyes into the room?
Quote: "
Should I successfully gain your support, I commit to working tirelessly to maximise the safe return of capital to shareholders and to do so without further cost to shareholders by waiving all Directors Fees."
Matt Mitchell's full letter ....
https://hotcopper.com.au/threads/shareholder-action-group-mk-ii.7846573/page-41?post_id=72862277Partial quote why the Directors are recommending that shareholders vote against resolution 2;
"
(sic) ........ and given the state of the settlement of the Morila dispute, the directors do not consider that incurring the cost of another director is necessary or appropriate in the circumstances."
Neither was incurring the costs of paying the current directors for the past 27 months appropriate, nor was paying the Chairman, previously $3,000 a day in fees / salary that totalled $370,000 from the time Cowden went (15/7) to Lowe taking his position 14/10 a total of 64 working days @ $5,780 a day, but more recently after a reduction to $2,000 a day / or $1,500 per hour for hours worked in excess of 16 a month.
I also hardly think that the knee jerk selling of $20 million worth of LLL shares held by the Company for $12.890 million just 9 trading days after LLL was listed was appropriate given (a) the nonchalant attitude towards that sale when questioned (b) the reasoning for the sale (c) was never used.
What part of being in the best interests of shareholders was the termination by "mutual agreement" with Lowe that cost us shareholders $454,000 settlement (including entitlements) but will also cost a further $130,000 as part of his mutual agreement package for the sale of 100% of Morila Limited shares to a 3rd party.
Shakes My Head
