Good afternoon everyone.
Have just returned from the AGM (yes...it was that bloody long
).
Pretty unpleasant, but it struck me as the "verbal housecleaning" we needed to have.
Charles and Ivan made their first appearance in many years and faced some pretty ugly music.
Olly was voted off which some will say stinks, while others will say was the start of necessary change.
Hard questions from the floor were asked to computershare, auditors, Charles and Ivan.
Phillip was the calming influence and thanks to his experience and apparent "
not going to take any crap" attitude, instilled a definite confidence moving forward.
Apart from his obvious credentials, Phil will
re-introduce us to the necessary broking community, as well as institutions and some larger funds.
He declared his satisfaction in being paid with shares and said he would be taking advantage of the current low share price by doing some on-market shopping of his own.
Yes folks. Imo, we have seen the share price low.
Charles did the presentation at the end (which you've all seen), outlining how the focus will now be changing. Definition of insanity, is doing the same thing but expecting a different result and it seems, the board (and I would say, thanks largely to Phil), finally now understands this.
In Charles' own words, he said he likes the relationship with Phil (and we know how important relationships are with the Chinese) and stated that having now discussed things and worked alongside him for the past several months, he just 'liked him' and that it 'felt different' (for the better
).
I sensed a new respect coming from Charles and a firmer accountability and both he and Ivan went on the record saying in front of all of us, that they would work closely with Phil and take his expert advice onboard.
The entire meeting wasn't all unpleasant though. Cutting through the tension in the air, was the ever delightful Shannon (yes...I know I'm a fan
).
Unfortunately she was called away as her little man was having surgery after an accident.
In that moment, whilst we were all busy worrying about how much money we've lost, I think the light of clarity struck all of us, about what's really important.
Gottalovevmt...?
Gottalovefamily.
(20min delay)