I am out of town and so could not attent the AGM.
My observation is that Resolutions 2 and 3 re-electing David Craig and Russell Brimage were to be voted on at the AGM.
David Craig prior to the AGM got wind of the lack of numbers and resigned.
Russell Brimage sailed on into the storm unawares of the lack of numbers.
Conclusion- The board put up resolutions having no clue as to whether they would be passed.
Obviously communication between the board and shareholders is not at the optimum currently.
The board currently consists of the Chairman, Craig McGown (1 casting vote plus 1 deciding vote) and 1 director,Andy Padman. (1 vote)
If I have this right, ETE now has a 2 man board or voting wise, a one man board.
Have I got this right???
I assume this will change.
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