thoughts on egm

Yesterday, presumably, like all other shareholders, I received a letter and proxy form dispatched to me by those who have requisitioned the upcoming EGM.
The envelope of the correspondence has a return address of a Post Office box in Western Australia but, disappointingly, no email addresses or telephone numbers are supplied whereby undecided shareholders can discuss their concerns with those seeking our votes.
The notice sent to shareholders outlines the intention to “deliver the wealth and market potential that Havilah has promised” but it fails to explain in clear terms how this will be achieved.
The letter understandably makes much of the track record and experience of those seeking election but does not clearly delineate a path forward much at variance with incumbent directors’ strategy.
The plan of those challenging our Board is to “unlock, in a timely manner the company’s potential”, and they intend to bring this about through “using more conventional structured project evaluation and development processes”.
Our collective future, they believe, will be secured through the implementation of a five point plan which sensibly addresses issues of re-evaluating all projects and their feasibility, the establishment of a clear strategy for development, finalization of bankable feasibility studies, establishment of best funding solutions and the reformation of managerial and corporate governance.
However, Peter Reeve is already a director of our company and was, in fact, a director paid for by shareholders for a recent six month period.
I would have expected that with his insight into how the company currently operates, he would have offered definitive and concrete recommendations for shareholders to consider for our envisaged future.
Sorry new boys, we are a conservative lot at Havilah and both critical of, but loyal to, our long-standing directors.
In the absence of positively defining plans for our company's future, your offer to deliver a new path forward for Havilah will be rejected.
Let’s now have a look at your Plan B.