General Meeting - What's the Problem you got what you wanted

Looking at all the hysteria on HC today with regards the Resolutions for the AGM it is clear that a great many have not even bothered to read the announcement before drawing all sorts of conclusions that are just plain wrong. If you are an investor please go back and read the document, if you are one of the many visitors who are here to save us from ourselves please ignore my post and the truth.

Basically We got what we wanted.

Resolution 1
Is to payout the last of the CN , this has been flagged for a number of weeks and was the basis for the EGM by the 31 May in the first place, nothing new here we all know the CN was a total disaster. Payment to be made on or from 15 August. No big deal here.

Resolution 2
Known from the July 2016 aquistion of JCT, payable in July. Known for almost 12 months. This will occur after the consolidation and hopefully a higher share price than now which will help to minimise the dilutionary effect.

Resolution 3
Approval to issue $7.5 worth of shares sometime in the future, but no later than 3 months after approval. Many suspected that a capital raising would be required sometime in the future, this has been speculated for months, so people are surprised, really? Worst part is that it is restricted to sophs as retail were not prepared to purchase the full allocation last time. The reasons have been discussed to death but it is sophs only.

Resolutions 4,5 & 6

Has been the subject of the most crap, it simply allows Athan, Wenjun and Marty to be considered effectively as sophs and participate. They WILL have to buy their shares, NO freebies but the $250k is a maximum they can purchase, I seriously doubt they will purchase $250k each, unless they were to get a bank loan. So we want to complain that sometime into the future they will purchase shares, it is what most people have wanted. Personally Chris and John need to put their hands in their pockets as well given the fact they did not participate in the last SPP, sure pissed me off that retail could contribute and Athan did but they decided not to, very bad look for me. By the way as it was a SPP at the time Marty and Wenjun could not participate as they did not hold any shares.

So directors buying shares is a good thing yes, at some time in the future, this price of 1.6c bandied about by some is just total BS as who knows what the share price will be in 2 or 3 months, and the price could/ should be a lot higher as it will occur after the consolidation. If anyone, other than doomsayers, can predict the share price 3 months away, then go for it. So no problem with resolutions 4,5&6 people wanted directors to buy shares.

Resolution 7

Hands up all those who having been banging on about a consolidation, well you got what you wanted, what is the problem, could have been worse than 2:1. Personally I would rather not have a consolidation but that is just my personal view. More often than not they do not always result in a positive share price reaction after.

You got what you wanted, what is the problem?

Summary

HC posters got what they wanted in this announcement, everything you have been banging on about for months.

So the share price response today is a measured response to the resolutions, not from my reading,but that is my view, for those who panicked today because they did not read the announcement and relied on the rantings of some on this forum, then it is probably for the best you have left.

With regards the small parcel buyback, it makes sense, but you have a choice. You have until the 23 June to make a decision, once again, who knows what the SP will be then, many who are now holding less than $500 may, or maybe not will still be holding less than $500, but it is your choice to participate or not.

Just my thoughts

Regards

Rayda