PET (ASX) Q&amp;A with Graeme Newing

Originally posted by Shortblack: ↑

Oh dear, looks like I upset an old man.
@Inchiquin
Newing is younger than Joe Biden, so he must be good, LOL. Biden has a lifetime of working experience in the White House. Newing has no experience at all in the management or controlling direction of a public company.

1. Voting online. If you go back a re-read what you posted, it clearly states that people who have been appointed as proxies need to call the phone number given to get a link to the meeting, not shareholders themselves. Stop giving incorrect advice.

2. Freedman. Your take on him having just as much influence with the current board as the proposed board members is laughable. Almost as laughable as your suggestion that the news article paints him in a good light. You must have missed the bits where he is shown to have received emails regarding bribes, as well as his direct involvement as Chairman in deciding to issue the dodgey options. Everything else in the article is public information & journalists are obliged to print whatever is relevant.
Don't forget Freedman is the guy with the connections in China. This is not the first Australian company he has handed over to China.

3. Media leak. Regardless of who leaked the information (it's a bad look for anyone), as a shareholder you should be grateful to have even just a bit of this information disclosed.

4. You are in no position to tell people how they should vote.

5. Share Register. Let me correct you here friend. The last published top 20 shareholder list was supplied by the company in the 2022 Annual Report.
If you look at the 2020 Annual Report it states that the shareholder information set out was applicable as at 9 March 2021 (just prior to the release of the report).
If you look at the 2021 Annual Report it states that the shareholder information set out was applicable as at 2 March 2022 (just prior to the release of the report).
Yes, you are correct the 2022 Annual Report does give the same "applicable date" as the 2021 report, however given that the top 20 list is different to the 2021 list, it's reasonable to assume that this "applicable date" is a typo, a copy & paste error if you will.
This means the list supplied in the 2022 accounts would have been applicable as at March 2023. Five months later trading was halted.

As a shareholder you have access to the share register just by asking the company for a copy of it. Have you done that ? Unless you have then you just don't know whether your mate has lied to you or not. Never mind, we will all find out in a couple of weeks.

You talk about misinformation ......... sorry, but your thought bubbles do not amount to factual information.

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I see the issue of share ownership differently. I think the date typing error is on the FY21 report. Under the heading Shareholder Information ( 31 December 2021) it then says " applicable as at 2 March 2022" It makes more sense to me for this date to actually be March 2021. Therefore the FY22 dates are correct and, If NewVest is Newings investment vehicle, then he was the 8th largest shareholder as at 2 March 2022 with 6,099,860 shares.

However, I have a vague recollection that, soon after trading suspension was lifted on September 16, 2022, Newing sold his entire holding and that he made a comment to this effect either on HC or on his Newing on Stocks website before it all went behind his paywall. Unfortunately, I cannot verify this.
But I do not believe that the information contained in the 249D notice is likely to be wrong as this would be a serious violation under corporations law. So, on balance, I think Inchiquin's comment that Graeme told him he was no longer a shareholder is correct. As I stated before, it is a concern to me that none of the Director's has any skin in the game presently, and can only acquire shares through a future (heavily discounted) capital raise, or through a fire-sale buyout of existing holders.