Thank you, these are all good questions, and I will answer them to the extent that I believe is appropriate.
1. It is in dispute. The legal advice I have is contrary to theirs. After announcing to the ASX, it could only be resolved by the courts, which they invited us to do. Even if I succeeded, it would have been academic, as the AGM is on Tuesday. I decided my time could be best spent communicating with members, rather than in the courts.
2. It is a credit to all parties that the SEM went out. Choosing between something going out, and nothing going out, was a no brainer.
3. I can only speculate as to the other parties intentions regarding why they refused to attend scheduled monthly Board meetings. As to cost, to date, there has been considerable personal cost to myself, and I assume Mr Collett and Mr Darlington.
4. I got appointed to the Board on the 4th October. There was a scheduled monthly Board meeting for the 24th October, and one again on the 21st November. Even putting the dispute aside regarding my Director status, I was a director during the period, and to date I have not been given up to date financials to review. I share your view that it is important to track the financials diligently. Apparently there has been a further letter sent our to share holders by a Mr Paul Rolfe questioning my experience to do this. Having served on many Boards across a diverse range of businesses over a period of 20 years, including CEO of a public company, I do have the background and experience to read and interpret the financials. In fact, it is probably one of the reasons why the other side is fighting so hard to keep me OFF the Board.
5. I don't know the answer to this one, as the AGM report was released prior to me joining the Board. The answers will most likely be in the Audit Committee meeting minutes. I have asked for these on numerous occasions, but to date they have not been forthcoming. It may well be a question to ask the other Directors.
6. Again, there is considerable concern regarding the remuneration report. Firstly, the process; a) who was on the committee when it was formulated? b) the release in the Annual Report was conditional on the minutes of the meeting being made available to all Board members prior to release (as I understand it). c) despite numerous requests, the minutes of these meetings have not been made available to me for review.
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