PLV (ASX) wheres the half yearly accounts ?

Originally posted by Pelm1 ↑

Ahh! What frustration. I have experienced it before and am now experiencing it again with PLV.

You need a purpose to call an EGM. A whinge about lack of information and poor feedback does not constitute a valid purpose. Just wanting to ask questions is not a valid cause for a EGM.

If you converted your whinge into a formal votable resolution then you stand a much better chance of forcing the EGM ... for the purpose of voting on the resolution.

However the nature of your resolution is critical.
Some resolutions are not binding on the board. That is, if your resolution is non binding then PLV management can continue TO REMAIN AS PETULANT AND ARROGANT as they currently are ....even if you win the vote .. they do not have to comply.

So, what would constitute a non binding resolution?
A lot has to do with the company constitution and division of powers. Any power exclusively vested in the directors under the constitution cannot be exercised by the shareholders. The power to manage the company is vested in the directors under the constitution. Matters which fall within the general management and BEHAVIOUR of the company are matters vested to the board not the shareholders.

You might say this has nothing to do with operations : it is about disclosure.
In its simplistic form PLV’s obligation is to disclose anything that a reasonable person would believe could influence the price of the stock. For example, we were told that WEG has its50% share back .. that would influence the price. What happened behind the scenes and how .. would not ... the influential point is that they got the 50% back.

What is going on with auditors will not influence the price. The published audit result will.

Basically you cannot make PLV answer unless you complain to ASIC/ASX that they are withholding info that would influence the share price .. then it would be up to ASX to make them release the information, if they agreed you were correct.

The information we want has to come voluntarily from PLV. For this to happen they need to have respect for shareholders. I think we have all seen that this is not the case.