Buddy how does one call an EGM? Time to tally up how many shares everyone in HC can use to vote and influence the results? We also need to know those who actually would vote in favor of a change of management. The top 5 shareholders only control 14.7% of the company, which is a pretty low %.
There are 402,597,477 ordinary securities [correct me if I'm wrong, I'm going by the quarterly report 31 Jan 2011, although the bottom of each Appendix 5B page dates as 30/09/2001 so I guess it may not be the only typo in the document]. Is it a majority vote to change director?
Page 2 of Appendix 5B "Payment of $93,000 to Butmall Pty Ltd in which Howard Renshaw is a director for accounting, adminsitration, secretarial business support services and management fees."
-We already pay HR to do these services for QMN, let alone paying another company to do them, which as you've all already mentioned is HR.
In the next quarter there is 1million set aside for 'exploration and evaluation', there is also 450k set aside for 3 months of 'administration'. I wonder if Butmall Pty Ltd (HR) will be the recipient of these excessive administration expenses, 150k per month.
How many shares does HR have? I'm running out of time to research.. but will be back on tonight - hopefully with some fresh info from some other posters.
Anyone know if there is any loyalty between the top 20 shareholders and HR? Might have to get in contact with them as well if people are serious about pulling this vote off.
QMN Price at posting:
9.7¢ Sentiment: LT Buy Disclosure: Held
