I am pleased to advise that the Board withdrew the director incentive share resolutions at the commencement of our Annual General Meeting this afternoon.
While this outcome reflects the shared position of many shareholders in this group, I think it is now time for us to put the negativity around these milestones behind us and remind ourselves of the positive progress made with our operations over the pasts 12 months lead by our CEO, Paul Peros.
What is most pleasing as a long term holder myself, is the current Board has developed a clear vision and put in place strategies to finally enable us to manufacture our own products and commercialise our unique technology. Something that has not been achieved up until now. The year ahead looks to be an exciting time for our company as we are due to release our Body Guard product (Lubricen), Surface Hygiene product and a revamped Reduit Uni device that will appeal to a mass market and in doing so will surely have far more commercial appeal and value to our company.
With regard to the current resolutions, unfortunately the board have misread the situation and the incentives proposed did not appear to be aligned to a majority of shareholders. However, like everyone, we all like to be motivated and suitably rewarded for our efforts as employees of a company. Therefore, I think we should keep an open mind to voting new incentive milestones in the near future.
It may be necessary for us as a group to play some part in setting such benchmarks that are more aligned between the Board and Shareholders. If our group all stay together we will have a unified and strong voice to guide decisions on the operations and future growth of our company.
(20min delay)