As per poster's requests, here is a brief update of todays meeting.
When the Chairman opened the meeting, Martin Bennett immediately asked for a point of order and came out with some comment from left field that Gary Stokes was supposed to have resigned or retired as a director and as such should not have been present on the board. He was immediately shot down in flames by an irate shareholder and by the PDY solicitor.
The meeting then continued and Martin Bennett called for a poll on both resolutions. This was done and voting slips were filled out (again!!) and counted by the able Computershare staff. The results have already been posted and were evidence of overwhelming support for the current board and their future planning strategy. It was encouraging to see that support!
I don't know what game Martin Bennett was playing at. Perhaps there was a hidden agenda or some ulterior motives. Perhaps he was just earning more of his $1200 per hour fees and stalling for time at the meeting. Perhaps he was just trying to cast doubt into sharholders minds. Either way, whatever he was doing did not work!
Let's hope that management can continue with their long term plan, finalise a deal with the overseas delegation, and provide some outstanding positive return for us patient shareholders. Let's hope the other players now get the message that the majority of PDY shareholders are not interested in their petty acquisition proposal.
PDY Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held