We need action now

Sandon Capital, an ASX listed activist fund, run by **riel Radsmynski has a big enough shareholding to make a difference. Here's part of their mandated mission statement on their home page (www.sandoncapital.com.au):

We buy shares in undervalued and underperforming companies in which we see potential for change. We then seek to actively engage with their boards on operational and strategic initiatives that we believe will generate value, and ultimately, deliver higher returns to shareholders. If we experience inertia, we collaborate with other shareholders to influence those boards to take action.

Sandon Capital, often featured in the AFR, has not proposed any initiatives for IGN shareholders to consider in over 10 years of being on the IGN register. Sandon Capital has continually voted FOR the existing Board leadership in place for over 10 years & AGAINST a significant and activist shareholder or any other alternative directors joining the IGN Board - they actually seem to enable inertia, not fight it.

We (suffering IGN shareholders) have not seen any evidence of any action taken by Sandon to stem the losses at IGN. 10 years of straight shareholder losses - $33m in total on over $1.2 billion in revenue. Not one single year of profit for IGN shareholders in 10 . Another $1.525m loss in 2023 under CEO Tim Moran. Sandon continues to turns up to AGMs yet remain silent.

The question is; why?

Is it because Gold Tiger Equity another long term supporter of the current IGN board & apparent stone waller of any real change is your 5th largest shareholder?

Seriously why?

Everyone can see the significant intrinsic value in IGN. A Board and CEO focussed on shareholders and profitability is what's required; plain and simple. The increase in realised value in IGN would be a significant contributor to the Sandon Capital NTA. The current board leadership has failed financially over 10 years and yet we see no action from Gold Tiger Equity and Sandon Capital.

Why is this the case?

Sandon does not appear to support ANY change.

C'mon Sandon - live up to your job as an activist fund and your marketing promise and get active or support other shareholders who are looking to make constructive change. If it's too hard for you then just sell your shares and be done with it and stop blocking real change.

By continuing your inactivity and your continued support of the IGN board structure you are I believe simply shortchanging at best your own Sandon Capital investors and IGN shareholders.