Why I'm voting against the reappointment of Rhod Grivas at next weeks AGM, page-4

Although I can understand that there is quite considerable frustration and there has been significant discussion regarding this motion, I feel there needs to be some realistic consideration before pulling the trigger here and creating a mutiny. There should be a bit of thought into what this will mean should Rhod be voted out of the company as Chairman. I would also like to disclose that I have had several discussions with several other Top 20 holders (please note we have all been here since the 0.5c days) and we agree regarding these points. I do not appear personally on the Top 20 as I have a large holding across several family members, but I will say that I am well in there. I have had many discussions with the board and other big holders well before ADN was any anyones radar and understand the initial workings that these people did when we were a minnow. I understand that times have changed the circumstances and requirements that we need going forward, but please consider the below.

* Have people considered what will occur if Rhod is removed? If BoD members are up for re-election, companies also give the SH's the opportunity to put forward anyone they would like to be considered for positions on the board prior to the AGM. With all of this reaction, does anyone have anyone considered as a replacement? Does anyone know of a suitable replacement should Rhod be removed from the board as Chairman? Because if people do not have anyone, what load is this going to now put onto the likes of James? Does everyone feel that James is doing enough at the moment and does not require bigger issues trying to source another Chairman as we enter the peak period of getting all of the ducks lined up to move towards production? One of the main Top 20 holders (in the top few) who is a great mate of mine has recently submitted a 249D on another company he is a major shareholder in and during that he proposed two new people to join the board in place of outgoing members should the vote go through. The vote was successful and this was possibly due to the fact people had an understanding the company would then be managed by competent Directors. It's alright to drive this from a forum, but the detail is in the end result. It's all good to throw the grenade when you have it, but not deal with the aftermath. Will the same people then attack the company when they are distracted from the real matter, building SH wealth by getting the plant built and commissioned and running, and are instead trying to find a new Chairman.

* Has anyone considered what this type of dissent this will send as a message to the shorters when they get hold of the fact we've just expelled our Chairman right at the death knoll of going through the most critical phase of getting everything into line for approvals and moving into a producing company? Imagine all of the ways they could manipulate this to their advantage if they really need to. We have seen the results from their last manipulation of facts and information for their benefit.


Here are my points to consider:

* Is this really the right time to do this? How much advantage are you going to get? Investing is all about risk/reward, and as far as I'm concerned now is not the time for this bickering when the critical phase is starting. A majority of the hard work has been worked on to get to this point over the last years. Well before a multitude of the 'voices' were here.

* I personally am not saying that Rhod is doing an amazing job. Personally I don't know exactly what he is doing, I'm not sitting in his office 5 days a week. I understand the points people have made and I also have many questions of my own seeing a massive part of my investment diminish from the highs, but I'm here until the end result. But there is lots of speculation regarding his input as a chairman and statements that may not be true. Remember the misinformation crew and what they've done to us. Be careful as you may now be having the same affect. Outsiders can feed off this to their own advantage.

* Consider what additional pressure will be applied should we be without a chairman for an extended period of time. Passion occurs when things aren't necessarily going according to the way people are expecting them, but determine whether you're here for the long run, for the end result.


Anyway, I am heading back to work away from my family and my wife is giving me daggers as I am not spending this valuable time with the family. I am ready for the backlash and statements and accusations, but if you read this you'll see it is just a post for consideration and make sure your votes are considered, not pressured.

GLTAH and consider the future and our direction.