Interesting email from Goodman this afternoon. I hope that they don't mind that i post it up for all to see because it answers a few questions that we have been asking ourselves over the last few weeks. From Goodman's comments i am personally retracting my sell order because i am inspired and hopefully that they will be able to turn this babe around.....
Email as follows:
Dear Vmoto shareholder, I have had a number of requests from shareholders enquiring as to how they should vote at the upcoming AGM on the 15th November 2011 and the EGM on the 29th November 2011.
Our supporting shareholders and ourselves had hoped and assumed that in the best interests of shareholders, the EGM resolutions would be incorporated into those of the AGM and in so doing, save the company time and money. There is no valid reason why the company could not have included the EGM resolutions into the AGM. The board knew that the EGM resolutions were being lodged but chose to hold the AGM two weeks earlier than was the case in all prior years to make life difficult for all. A professional board that adhered to generally accepted codes of conduct would have held them together. HOW TO VOTE when you get your proxy forms VOTE ‘AGAINST’ ALL resolutions in relation to the AGM to be held on the 15th November 2011 and send to Vmoto office as per the notice of AGM. VOTE ‘FOR’ ALL resolutions in relation to the EGM to be held on the 29th November 2011 and send to Computershare as per the notice of EGM form which you will soon receive in the mail. IN ORDER TO CONFIRM THAT YOU HAVE VOTED AS ABOVE please Click on this link http://www.gopetition.com/petitions/vmoto-board-change.html, and fill out the online petition. This will enable us to make sure that all votes are counted correctly. Just fill in your name, tick the anonymous box, so only I and the incoming board can see it, make a comment on the petition website if you wish, fill in the quantity of shares you hold and each other section. It is very quick and easy.
Alternately, if you do not have access to the internet or prefer not to follow the link, please either send me a copy of your proxy which you returned to the company i.e. AGM proxy or Computershare i.e. EGM proxy, or alternatively just send an email to [email protected] stating that you have sent your forms back and have voted AGAINST ALL resolutions in the AGM and FOR ALL resolutions in the EGM when you receive the documents in the mail shortly. A number of shareholders have asked us, what happens if all resolutions are voted against at the AGM and Charles Chen is left as the only Vmoto board member? The answer is he can either elect those directors standing for election at the EGM on the 29th November 2011 before that date and stand down himself, which is what a professional director would do. Alternatively if this is not done, the company can function with only one director for the 14 days between the meetings when the new board is voted in. Legally, this is not a problem.
Please feel free to contact me in regard to any questions or concerns you may have. Please also note that both Mr Fitt and myself will each be separately sending out letters to shareholders pre the EGM .My letter will state some facts about the actions of the current board members and their associates which has lead to the company being in its current state, more about me and my associates who will move forward with me and why I think urgent change is necessary. I will also divulge a detail of our plans without giving anything away to the retiring board who will look to debunk, the best, most well thought out road to profitability. In addition I also intend to announce a few items which I plan to pursue if I and my new board members are elected on behalf of company, at my cost. If successful windfall gains could be achieved for all shareholders potentially amounting to several million dollars. As you know, I am unfortunately one of the company’s largest shareholders. I have bought more shares over the past weeks and I know that the new board has the intellect and contacts that will make Vmoto a profitable success. I respect all shareholders and feel for them. Many are longer suffering than I and deserve much better. We have a history of running profitable businesses and have a desire to surround ourselves with the best most knowledgeable and experienced people, rather than just with “mates”. Mr Fitt (experienced financial controller), Mr Rahi (One of the ex owners of Emax) and myself (Corporate/Funds management and stockbroking experience plus general very profitable business experience) with our associates, will do what is necessary in order for shareholders i.e. YOU, to finally achieve a return on investment whilst simultaneously treating the company’s “owners” i.e. YOU with the respect you deserve.
Finally and importantly, please note that any comments which the company may make in relation to the “damage which will result due to the removal of the current board” is totally irrelevant and untrue. The current founding board has done massive damage to our company. Many of the company’s best employees that have not yet resigned know this. They are the people who know us and want to work with us. They urgently desire change, before it is too late. They look forward to the positive opportunities that will flow to the company, to themselves and to all shareholders as a result of our involvement. No names can be mentioned as yet as this may jeopardize their current employment. Please click on the following link http://www.gopetition.com/petitions/vmoto-board-change.html and fill in this anonymous petition which will confirm that you voted AGAINST ALL resolutions at the AGM and that you will vote FOR ALL resolutions at the EGM when you receive that notice in the next 10 days Kind regards
Russell Goodman Gain Capital Management Pty Ltd Absolute Investments Australia Pty Ltd [email protected]
VMT Price at posting:
2.8¢ Sentiment: Buy Disclosure: Held
(20min delay)