I agree. It appears that the companies strategy of a company in run-off and to return value in the form of dividends (including Franking Credits) to shareholders is different to what directors have suggested through recent communication, whereby re-entering the loan market when the restriction is lifted in 2010.
These actions against the company strategy has been to the detriment of shareholder value, the RHG shareprice and against the very reason a lot of investors invested in RHG.
I commend the staff at the Intelligent Investor for this action on behalf of RHG Shareholders.
I will be voting in favour of the 3 proposed resolutions and encourage other shareholders to do the same. If you know of any friends, relatives, colleagues who own RHG shares please make them aware of the proposed resolution and the benefits of voting in favour of such.
As mentioned the website providing information on the resolutions is http://www.rhgshareholders.com.
RHG Price at posting:
42.3¢ Sentiment: Buy Disclosure: Held