HI
@luke_wardle
To make it manageable you need to be holding 1 Million shares and it does not need to be in 1 holding as the minimum benchmark and have long term view. (It requires verification).
ATM an investment in WKT for 1 Million shares = $150K investment
To address some of the ignorant, ridiculous and gibberish comments posted recently I will outline some detail to inform other shareholders surrounding the T40s that have come together.
1st POINT.
I am NOT looking for a position on the Board. (see the word "NOT" N O T )
2nd POINT.
I am NOT looking to take over the company.
(see the word "NOT" N O T )
3rd POINT.
T40 group of individual shareholders collectively own a considerable a sizeable stake in the company.
The T40 group is NOT looking to take over the company.
(see the word "NOT" N O T )
4th POINT.
There is no grand conspiracy to remove AM from the company and there is NOT a discussion as such.
(see the word "NOT" N O T )
5th POINT.
The T40s are not privileged to information that is NOT market sensitive.
(see the word "NOT" N O T )
We may have more intimate knowledge and understandings of what the company is going through and processes involved, etc that is not market sensitive as 20 PLUS minds are better than an individual.
6th POINT.
The recent calling upon the T40s has challenged Management and the Board for the first time ever. They had for years continued on without proper effective oversight for shareholders. The role of the INED (Independent Non Exec Director) is to represent the interests of shareholders and to be the back stop for shareholders.
I am most certainly very happy with ME appointment as our new INED and that he also has a significant corporate industry background and is now a major shareholder.
I identified ME building his position in WKT many months prior to his appointment and this was confirmed to me back in Sept 2018 when his Gerroa account popped up. I did make a welcome post to Gerroa at the time and no one else at the time picked up on it.
https://hotcopper.com.au/threads/ann-annual-report-to-shareholders.4448900/#.XJ7eXHduLIU
When these mechanisms are not in place it disadvantages shareholders and enables any management team to ignore the voice of many individual shareholders who are not in contact with each other.
That is now not the case as the T40s are able to communicate with each other.
7th POINT.
I would suck as an Engineer : )) and NOT afraid to admit my weakness.
(see the word "NOT" N O T )
**********************
Shareholders regardless of the size of their investment have every right to challenge any situation, including the lack of action and the actions of any director in any company. That is your RIGHT.
The issue comes back to corporate governance and the board.
The board should always be constantly questioned and checked upon by shareholders.
If any board is not aligned and representing shareholders best interests then shareholders have every right to hold them accountable.
Apathetic shareholders who are disconnected from their investment are what provide situations that can end disastrously for their investments and others.
As per ASX guidelines for best corporate governance practices it states 3 INEDs to form the majority of the board, hence the WKT announcement with ME appointment in Dec 2018.
https://www.asx.com.au/asxpdf/20181220/pdf/441dvk6hmdg1d2.pdf
They are only ESSENTIAL mechanisms to protect ALL shareholders after all, NOT just the Top 40.
(see the word "NOT" N O T )
(20min delay)
