Griffo. You're disappointment in this company's board and their...

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healyn

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28/09/16

15:06

Post #: 19480598
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Originally posted by Griffopj ↑

This is the content I sent to Empire to be included in the Notice of Meeting:

Dear fellow Shareholders,
I have taken the step of nominating as a Director of our Company. I have been a shareholder for many years and in 2013 I supported the change of our Board. At the Annual General Meeting I told our Chairman that he had my support. I told him that there was a lot of pain in the room and amongst the shareholders. We, you and I, were made many promises. I ask – how many of those promises do you believe have been delivered?
Since that time my trust and faith has been eroded. The key measure for performance of our company in my opinion is the share price. We have seen our share price devalue from $1.50 (adjusted) to our current price of 30 cents. It’s time for change, three years is long enough for the current Board to implement strategies, and unfortunately they have not been successful in my opinion. We were promised that they would unlock shareholder value. My investment is one fifth of what it was. I am disappointed and frustrated.
I am concerned that even though the Company has earned millions of dollars in revenue we have no savings; we have not retired any of the debt associated with the ERM Transaction – that debt has now transferred to MIN. It appears that all our revenue is being spent on supporting administration costs and personnel. Our drilling program has stagnated with the one drill project in three years requiring unbudgeted remedial works to be carried out.
I was sent a notice in relation to defamation proceedings by the former Directors. In December 2013 action in the Supreme Court WA was commenced to recover legal costs for our company. When was the last time we shareholders were given an update of the progress of the proceedings?
Why should you support me? I am a shareholder, I bought all my shares – none were given to me for exertion. I have had enough and it is time this Board stepped aside and gave other people the opportunity to succeed. I am fully employed and have been since leaving school. I have a Commerce Degree, Business Law was my forte. Above all else I bring one quality to the table, an enquiring mind which delivers common sense outcomes.

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Griffo. You're disappointment in this company's board and their promises is palpable. Imho it resonates with the majority of shareholders.
Maybe, just maybe when the votes are counted, the squadron of flying pigs may finally land. Here's hoping.

EGO Price at posting: 29.0¢ Sentiment: Hold Disclosure: Held
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Griffo. You're disappointment in this company's board and their...

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