egm votes, page-9

Regarding the vote at the EGM, I am now thinking the odds may be stacked against the ordinary shareholders to change the way this company has been going about the raising of capital in the past by giving preferences to those who take up the convertible note issues.


I am relising that this vote at the EGM may not get up because as I see it the vote will be fought out between what I see as two separate groups,

1st group being those shareholders that hold a very large number of shares and also the convertible notes (series 1, 2, & 3), and would probably also be wanting to be issued more convertible notes into the future.

2nd group would be made up of the ordinary folks with NO ASSOCIATION TO NOVUS, and simply holding shares in a company they believed would reward them in time.

My belief though is aligned with many of you here that the company does need to access a different type of funding than the convertible notes and the only way it seems to bring this about is to lose the two Franks from the board.

But as I said the vote for the removal of the two Franks and the appointment of Trevor and Thomas may not pass, and then if this is the case it would be back to business as usual. If this is so I personally would then be looking at the earliest opportunity to divest from this company.

I think one of the biggest tell signs for me that does not have a good look whatsoever for a transparent fairness is what is on the IG web site,
http://www.ggpl.net.au/index.html
written directly under both vote forms,
which is:

"The current directors fought AGAINST allowing the company`s share register receiving your proxy vote.

Please send a copy to GGP Investors Group to ensure the integrity of the count.

Either:
Email to [email protected]
Fax number (07) 5522 0138
Post to PO Box 3677, Burleigh Town Centre, Queensland 4220.

Vote now as every vote counts"

I think the ordinary shareholders will be pushing it uphill even with a united voice, as it takes a lot of small holders voices to be heard over those large groups aligned with both Novus and the directors.

Anyway for what it's worth I've had my say, I just wish for all of the smaller holders to at least fill-in the two vote forms for the EGM on how they see it and lodge their forms before it's too late, which is now.