shareholder corporate action, page-25

For Someoneelse if you are going to the AGM I would recommend that you send the Company secretary a fax and confirm that he has it and your questions.

I would also recommend that you start a thread requesting questions and get a few more and then get those shareholders to send them in as well.

I would also ,when they fob you off - with the line that they will discuss that with you informally after the meeting, ask that they answer to the meeting as you are merely asking questions that others have also put forward.

My experience is the good Chairperson will seek to almost intimidate you rather than let the really hard questions be answered. Most shareholders seem to just give up and go home. Some or the majority just seem to be happy because they got told everything is on track , just a bit late but you know how these things are. Tradies never arrive or finish on time nor do projects and after all you are fortunate to have been allowed to become a shareholder.

This is a very complex business and you know that we and our plans are dependent on government controlled processes and these bodies dont march to our drum but we are making progress etc etc.

Basically I am amazed by the absolute waffle Aussie directors are allowed to get away with. Its not the shareholders fault its the system. Don't see many prosecutions for blatantly misleading the shareholders yet every time a new management takes over they border on libel but only say those things in casual conversation. ASIC should review public announcements in light of shareholders complaints. However that idea is always overrun by a Senate enquiry that finds all these problems but no-one does anything.

If you have the time and inclination look at the past posts by wookuk on GTP and TIM. He posted the senate enquiry into the cattle scheme and it was unbelievable even the comments of the chairperson. However guess what I haven't read that anyone was arrested or that ASIC intends doing anything.

In reality we have ourselves to blame management know that there is a very slim chance that anything will ever happen to them and ASIC just keeps moving forward without really seeming to put a stop to it. I have already sent my local senator a letter telling him I wont be voting for him if he keeps commenting on these bad practices but does nothing about them.

I know the UK and there it is similar but you have to be far more careful as shareholder activism is getting far stronger and if they do get on the case the oversight bodies do take notice.

We on the other hand don't have those forums and even though I am a member of the shareholder association don't expect them to do anything other than ask politely and accept blatantly vague answers.

I hope you will go and ask the probing questions and not just accept the vague "nothingness" that they will tell you. I don't hold enough stock to warrant attendance that would require me to fly etc. However I am more than willing to writing a letter asking for answers.