I think shareholders should consider putting the board on notice that any underperformance at this stage is unacceptable by way of a first strike under the 2 strikes rule. I believe we are now at the precipice where the board should be a lot more decisive in their decisions and pushing toward a set timeline. In my view they have been quite sloppy to date in the way the project has progressed and have shown a lack of professionalism in the way they are dealing with shareholder queries.
The way I see it, the board should be put under closer scrutiny regarding their remuneration particularly where the directors' remuneration is not directly tied to its performance. A first strike at this years AGM will not result in any movement in the board this year but will put the company in a position where it can spill the board the following year in the event the company is still underperforming. Otherwise, shareholders will have to wait for another 2 years to spill the board. I urge all shareholders reading this to give this serious thought and vote accordingly on the remuneration resolution at the AGM.
I don't want to hear comments such as "give MT and the board the break...they've been working hard". Comments like that show that you have grown emotional about the company.
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STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
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