GR re New Chair, EGM and C/N, page-13

I concur with your comments and choose to tag on to them rather than respond to the initial commentary from allhotcop, a post which would have been helpful indeed if it had not veered into a diatribe about negative postings.

Firstly had we all chosen to listen to the warnings from a number of posters over the years we might have all avoided some of this drama. They were warnings alright and veryconfused spent a lot of effort trying to draw our attention to the previous MD. We ignored it - most likely because it didn't fit the narrative we wanted to believe or because we feared it might hurt the share price. He went to a lot of effort in his posts and was shouted down.

Someone posted a US "analyst" assessment that suggested that the business practices might be dubious and focus on sales no matter what. It was dismissed but was actually on the money.

Others posted warnings but we could dismiss them because they were often one liners and these continue. They are easier to dismiss because they contain little background or rationale.

Some post more detail - and I am one of those. But of course that can lead to criticism for many reasons, including the fact that one is being negative. I doubt very much however that my posts or those of anyone else actually create the share price action we have seen over an extended period now. I kept my mouth closed for a while and so did many others - it didn't reverse the trend however.

Right now I am resisting posting a longer response in which I outline the reasons why I am ok about the involvement I have had in pushing for better governance, a better and more balanced approach to communication, for a new chairman and for resolution of some of the worst and more damaging business practices that were uncovered. Much of my activism has been in private but I have used the public forum where I have thought that would be useful. Useful may not mean the shareprice performs short term but I believe that with the changes about to happen that will recover if the business is as sound as we are being told.

I make no apologies for my actions though some might have been happier to see two executives still in place paid over $1 million each with goodness only knows what else going on - if they had been able to sustain the business at all given what we know now.

"My suggestion is that you do not look to H/C posters for the drop in sentiment surrounding this stock, but to the board who have created the conditions in which it has occurred. It is little wonder that people who are a long way in the red are disillusioned - and preaching to them about their behaviour is not helpful.

Hot Copper is here for open debate on stocks, open and truthful discussion. If you hide the downside of a company, and paint it all as roses, other people who are looking to invest may dive in, only to regret it when the truth is revealed. Every board comment needs to be picked apart, because so much is hidden to make companies look good, and fulfil the demands made on board members (and believe me, protecting shareholders' interests comes lucky last)."

Right now I will be very happy to see the EGM pass and a new Chair in place. Then we can observe progress as if on a new page.


Parsifal