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Why I will not be voting until three days out!, page-2

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madbutcher

1,388 Posts.

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15/02/17

22:42

Post #: 22649894
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Originally posted by Waldo777 ↑

At this stage, like most here, I am almost certain to direct the votes for the 600,000+ shares (and growing!) I have accumulated in the past few months in favour of all four resolutions.

However, I will not be voting (online) until three or so days out from the meeting for the following reasons:

1. Albeit unlikely, just in case there are material changes in the next month that make me change my mind.
2. If the directors realise early on that they (or at least one or two of them) are a good chance to lose their jobs due to overwhelming shareholder votes against them they may be motivated to take steps, including:
-Rushing a resource upgrade and/or PFS out to grant them more votes through performance shares.
-Capital raising to favourable parties who will vote for them.
-Temporarily buying shares on market or organising for third parties to temporarily accumulate shares on market.
-Converting options where possible to FPO shares to be eligible in the vote.
-Working up support through direct shareholder communication (wouldn't that be a first!).
-Releasing 'hype' announcements or threatening announcements (e.g. we are in final discussions with xyz firm and only we can now deliver an outcome) to influence votes.

I'm a student of economics and so, for the reasons outlined above, I believe that the optimal strategy from a 'game theory' perspective is for at least a fair few of us to vote in the final few days when they are mostly powerless to take potential harmful corrective action.

It would obviously also be great if we could all accumulate more shares leading up to the record date before the vote! I know I sure will be - regardless of share price direction - because I can't find a stock with more medium term 6-12 month upside on the ASX than BGS!

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I'm taking it a step further and I'm going to vote in person. The larger the angry mob the better!

BGS Price at posting: 30.0¢ Sentiment: Buy Disclosure: Held
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Why I will not be voting until three days out!, page-2

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