Wow those percentages for Resolutions 1 & 2 are actually very close and would definitely explain why SYA have been making the round of calls to share holders over the past week to encourage them to vote (or maybe sway their vote).
BL and PC must have seen much closer numbers up until the last minute. It would have been a very uncomfortable EGM if it had swung over an extra few % points.
It's also interesting to note that there are 171mil of shares that had abstained from voting. Looks about the same amount as what Brett owns. I suppose as a CEO you shouldn't be able to vote on your own remuneration but if this was the case then we would probably see the same amount if not more abstain from PC's remuneration vote... unless he was "comfortable" with giving himself the parting gift.
Like most on here I'm glad to see the back of PC and am still upset that he got a golden parachute for doing a sub par job. Just remember that he has more shares than BL so doesn't need his extra 10mil of shares as a goodbye gift. Some people are sad to leave their jobs... others like PC take some extra free pens on their way out... I say good riddance.
Before SYA started production at NAL... it was all about "Shovel to Ground" as a catalyst for share price.
Now in stage 2 of the business cycle, the next catalyst for share price appreciation and return on investment for share holders is "Money in the Bank"... (not more promises).
Stage 3 will be expansion of business and consolidation/reduction of operating costs to increase profitability... this is when shareholders might also receive a dividend if the business turns a reasonable net profit. At the moment it looks like Brett is trying to jump to this stage before crucially delivering stage 2 for share holders return on investment.
I just hope BL and Dougal can get their priorities straight and stay focused on delivering us shareholders an offtake asap! We damn well deserve our golden parachute too for being so patient.
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