I am a long-term KBL shareholder. Recently received the annual...

I am a long-term KBL shareholder. Recently received the annual notice of AGM and was astounded to see a swag of resolutions that propose an issue of shares to members of the board. I note that the company’s prospects have improved markedly this year but I think the board has the cart before the horse. Page 21 of the annual report shows the company was profitable in only one year of the past five. The board has a hide – it’s not as if members are poorly renumerated. Results should be the basis for such largesse so I see no justification for these proposals. I for one won’t be supporting the resolutions