CLARIFICATION
AGM's, EGM's, Lunches & AGMPL
Good afternoon,
The company has been very focused on getting on with business over the past 6 weeks since relisting. The world trade market, in general, has been under pressure of late, which is potentially affecting sentiment across many ASX listed stocks and sectors. I haven't posted in here for nearly a month as we have have been very focused on meetings and speaking to all our partners. Please note that I have been following the forum every day and passing on comments/concerns to Sholom.
Regarding EGM's and AGM's and shareholder contact discussed today. The company, at the last 3 general meetings, 1 x AGM and 2 x EGM's, were expecting representations by shareholders from HotCopper to be in attendance and present their inquiries at these meetings. I believe we had 1 person x 3 (meetings) attend and proxy vote and 2 people at the last EGM who spoke in a small group with Sholom, Pnina and myself, at the end of the meeting. We stayed back for nearly 2 hours talking with different shareholders at the last EGM.
Regarding company shareholder paid lunches. I have been in attendance at all public meetings for the past 2 years and on all 3 occasions, I attended post-General marketing mgt. meetings to prepare and release the "Results of meeting" for the ASX, and discuss shareholder concerns. We had a salad and coffee at the offices bought from the local shop.
We have become concerned with a continuing line of discussion in the forum regarding AGMPLWe have addressed this manner on a few occasion over the past 18 months and it appears that a small group of posters continue to cast aspersions, and/or assumptions, make potentially uninformed statements, observations or continue to raise questions regarding the use of a legally structured management entity, which has been approved by the Board of the company, has not been flagged by the ASX , and is legally engaged to handle company administrative business for Cann Global Limited.
We must state for shareholders and members in this forum:
1) We are concerned that this is potentially a form of "Fake news" or rumourmongering when made as an observation or a statement.
2) We are concerned that when repeatedly asked as a question it may potentially be mischievous in nature or even poorly researched which can lead to investors questioning the legality of the management entity.
Regarding the management company, AGMPL:
1)The arrangements with AGMPL as the administrative service company for CGB are neither illegal nor unethical, which is why it is allowed by the ASX and by the board. It includes all the executive directors and executive management pay, and all administrative staff. The executive directors or management do not get paid separately or in addition, so the arrangements are and have been beneficial to the company.
2)The administrative costs of the company compare very favourably against nearly any of its ASX listed peers. To confirm this, please do your own research and compare the admin costs of other companies in this sector
QUESTIONS & RESPONSES FROM THE COMPANY
At this present time, if you have concerns about anything you read on Social media, please contact the company directly at
[email protected] and we will able to assist you.
If your questions relate to commercially sensitive information or giving information on future announcements please understand that there are both restrictions and penalties for public companies that pre-release information ahead of ASX announcements.
Thanks,
CGBrep
