As a long term holder of URL along with so many, I am absolutely bemused at the recent General meeting resolutions 2 and 3. The share price is going down; the merger with Vulcan has had little to no benefit and probably bring them down also. Three failed loan attempts, and now a proposed name change to (I assume) arrest the SP slide. The 10 for 1 share was mismanaged and a farce as the promises made then for the merger etc have not come to fruition. Yet the Board wants us to give them a 5 million "Performance Share rights" aka a bonus and reward plan for its employee. Crazy stuff.
Effectively the board wants us to reward them for their BAD performance by voting yes. Please - give me a break and I hope and plead that you all VOTE NO.. This is absolutely criminal and ludicrous to ask for a bonus considering above and take into account the 10 for 1 deal done recently - the shares are actually in the negative - if that is all possible.
I have no objection to a bonus, but only when it is deserved and that is currently not the case. Fight back and VOTE - NO
Disgruntled!!
URL Price at posting:
9.1¢ Sentiment: Hold Disclosure: Held
