Ann: Annual Report to Shareholders, page-6

Those with substantial holding should take a leaf out of EDV. Management there was not doing a great job and big share holders are demanding a change to the BOD and a review of the company's strategy.

RFG's BOD has done well to ensure RFG's survival, but not shareholder's survivals. They awarded themselves with performance bonus and 15m shares each and the poor shareholders are suffering and diluted to oblivion. Meanwhile the business is going backward, SP close to COVID low, and the BOD needs to know that we need improvement and we need it soon. The status quo same old same old won't work.

Just read their latest report - everyone is doing a great job. They are lucky to be able to promote the current CEO, very fortunate to recruit the "highly credentialed" CFO, and George has done a great and fantastic job! Who rated them, other themselves? The CEO and CFO is unknown. Who gave them the performance bonus and 15m share other than their own BOD? Why does SH have no say in it? And why does the performance of the company not come into consideration? What does share holder value not respected?

If you have substantial holding in RFG, I encourage you to contact management, call the CFO and write to Geroge asking for action. If you keep high fiving them, you will get what you got over the past 3 years. Nothing will change. Don't tell them they have done a great job if they have done zilch.

This company has potential but the current BOD and management is not suited to the tasks at hand. I demand change and we demand it now. Don't drink the Kool aid from management - they will tell you the rosiest of story and everything is at an inflection point and everything is hunky dory and you vote for their remuneration with another 15m shares in a month time.

I will be lodging a protest vote at the next AGM - these guys need to know shareholders are not content.