Section 249N of the corporations act allows shareholders to propose resolutions at an EGM
Link to ActThe company must include if 100 shareholders support (or 5% of shareholding)
I suggest a resolution to address the biggest issue for shareholders which is the share price trading well below NAV.
The proposed resolution will be to increase the size of the buyback and further consider a vote to wind up the company. It is a direct response to our management being unable to date.to provide an effective strategy to address the undervaluation of investments in the current share price - note last NAV from management was circa 37c
Why a buyback is good? - because we are buying our own assets at 25/37 cents in the dollar (being the share price/NAV)
Wind up means
1) avoids any potential dilution of the value of existing investments via the proposed external management and performance agreement
2) possibly a better chance of getting the value of NTA from asset sales and distribution to shareholders
Remember - shareholders own the company (not the board or management who work for the shareholders)
If you agree please just email the name & size of your holding to
[email protected]
All information will be treated confidentially
