First, I would like to thank the BoD for today's announcement. Not for the contents within but for the sentiment it has created from those who were unsure which way to go re: the motion to remove a director by members.
To those still venting on HC about changes to the BoD/removing AL/reducing remuneration/sacking advisors etc, how do you expect any of those changes to occur any time soon without joining the motion to remove a director by members? I am all ears. It may save me time. If you cannot answer this question, then email me.
To those who say my posts are damaging the company, I'd say the company is quite capable of doing the damage without my involvement. I didn't release today's announcement and I didn't negotiate the CN.
Yesterday, I predicted a price sensitive announcement. However, I didn't expect today's type of announcement. And perhaps it was a surprise to L1 Capital too as 3B's are almost always accompanied by a price sensitive news announcement. Let's see if we get another 3B and then a price sensitive news announcement.
I was asked by 1 person who emailed me: what are my motives? In response I replied:
all I can say in response is the same as I posted when I started the thread for a Director's removal; I have always liked the tech. However, I believe XPE is hampered by poor, often self-serving decisions. If there was an Independent Chairman would XPE have:
1. A CEO and a MD?
2. The same high level of remuneration for Executive Directors?
3. Made cash draining acquisitions? By buying JCT, the core business model of XPE changed; from a high margin, IP licensing company to a low-margin manufacturer.
4. Agreed to a CN?
5. Rewarded SH's with a SPP when the SP was at a low and under the SPP price?
6. Appointment additional Corporate Advisors after already paying another Advisor for exclusive advice?
7. Sought a consolidation of 2:1? What possible purpose does this serve? XPE traded in the 3-3.3c channel for a while. And then look what happened. So why would a consolidation which would take us to under 3c have any benefit?
8. Rewarded SH's with a potentially diluting offer... after a consolidation?
9. Sought to buy shares at a discount to non-office holding SH's?
10. Sought a "commission" for doing the core task of the head of a spec company... raising capital?
11. Allocated scarce and expensive capital to an inventory build-up in an acquisition company?
12. Contravened their own Corporate Governance Policy re: Independent Director?
So if you answer "no" to question 1, then who do you want as the head executive? Athan or Marty?
All honest questions. Perhaps I could add another about legal action.
@elit @Cardpro @Simon2017 I didn't receive your emails. Please send again. The more emails in support, the stronger our position.
