Sure is going to be a toxic agm since at 2 year lows despite the upbeat comments from directors on and off the record. They win by getting paid and pulling in performance shares for god knows what. End of the day the sp is the only important thing - nobody is invested for the sake of jolly good ideas or fluffy reports - we are invested for the purpose of the term 'return on investment' i.e. appreciation of the portfolio.
Maybe it is time the Asx relabels the small caps into a separate "Completely speculative, unregulated and opaque Index" so everyone knows exactly where they stand.
On another point, a posting today regarding pressures investors are exerting on boards noted that most Independant Directors move around and sit on various boards of various companies forming a 'club' of sorts. That type of Independant Director is exactly what I fear we may end up with - a career independant only in it for the cash and ready to take the role of yes man. Can't see the board honestly opening themselves up at this stage to internal dissent or criticism. Assuming this comes up at the agm, would prefer an attempt to get the required 5% to issue a first strike and even better a motion to attempt to remove at least one current director and bring in board someone with commercial sense that will not feed bs down shareholders throats.
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