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2019 AGM wildest in ASX history?...

  1. Successwillcome
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    08/03/23
    18:57
    Post #: 66664958
    2019 AGM wildest in ASX history?

    https://www.traderscircle.com.au/is-this-the-wildest-agm-in-asx-history/

    Is this thewildest AGM in ASX history?

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    SamGreen ,

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    Eachyear ASX listed companies will host an annual general meeting (or AGM) to keepshareholders informed of corporate activities and to allow shareholders to voteon certain aspects of the company. It is also an opportunity for investors toask questions of the board and management team, and for the board and managementto assuage investors’ concerns.

    However,sometimes things go awry. Sometimes no amount of soothing words can calm aninvestor who has taken the opportunity of the AGM to register his displeasurewith the way the company is operating.

    Thatis what happened at the recent AGM for Australian Mines Limited (AUZ.ASX),probably the wildest AGM for an ASX listed company in recent memory.

    Recentpoor share price performance from the company has led to some animosity betweenthe shareholders and management and this spiral led dangerously out of controlcome question time.

    Someshareholders have leveled unsubstantiated accusations of insider trading andmisuse of confidential information. However, this was relatively tame incomparison to the behaviour of one attending shareholder.

    Nosooner had AUZ Managing Director Benjamin Bell finished informing shareholdersthat his family had been receiving death threats (in relation to hisstewardship at AUZ) when a “Jason” stood up and shouted that Mr Bell was a“dead man walking” before striding out.

    Ontop of plenty of reasons for investors to be unhappy with how the share pricehas performed over the past eighteen months, there were also plenty of otherissues raised by the shareholders, with varying degrees of apparent relevancy.These include the fact that the company’s website has been down for a while nowand the fact that Mr Bell volunteers one day a week for the local council.

    Someof the attending shareholders also stated their belief that the AGM wasconducted unprofessionally and many of them seem to have lost faith in thecompany’s board and management.

    AustralianMines Limited (AUZ) is a battery metals exploration company. AUZ focuses onexploration and development activities in Australia, with their flagshipproject being the Sconi cobalt-nickel-scandium project. Sconi is one of veryfew large ore bodies of its type in Australia.

    AUZ Price at posting: 4.0¢ Sentiment: Hold Disclosure: Held
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