Why I'm voting against the reappointment of Rhod Grivas at next weeks AGM, page-2

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Lilow

9,199 Posts.

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15/11/21

22:27

Post #: 57596852
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Originally posted by tradezman ↑

My reasons are follows:

It's generally understood that management with a proven track record and experience in their specific industry are more likely to succeed, highlighting the importance of looking at the background and experience of our management.

it is important that the management team have the relevant experience for the project(s) they're about to undertake, just as management teams with only exploration experience are really 'unsuited' to build and operate a business, let alone businesses.

The question you must ask yourself is; do the experience and qualifications of our Company's directors give the best chance of success for the Company? In other words, would they be very appealing to similar ( or better) market cap 'operating' peers because of their business and corporate attributes?

Our Chairman, Rhod Grivas is a geologist with over 30 years predominantly resource exploration experience. Currently from what I can see is also a non executive director for several small cap explorers (namely: Lexington Gold, Okapi Resources & Golden Mile Resources, maybe more)
His resume appears not to include bringing a business from a explorer to a successful medium or long term business, let alone one with the potential of the multi facet businesses of Andromeda.

As the Chairman he has overseen the following corporate achievements? for the past year.

Positives:
- merger proposal with MEP (could be debatable for its timing)
- 2 Offtake agreements (Chinese Offtake has to be a long term risk, like all Australian exporters to China)

Negatives:
- a capital raise (suggestions of insiders knowledge cannot be ignored)
- active defence of the Company from disinformation of shorters
- two delayed DFS's

I maintain Andromeda badly needs an experienced and reputable Chairman who can oversee a successful transition from explorer to potentially a multi facet producer. It will be several years before he comes again for re- election and to me this a real risk.

I've seen over the many years what I call 'owners disease' where the business badly suffers or fails because of the ego of its inventors, developers, explorers, etc. who cannot let go and handover to a more qualified and experienced person for the tasks ahead.

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Totally agree mate that Grivas is not the right chiarman to lead us into productions as he lacks the qualifications and he doesn’t have the best interest of the shareholders based on the CR hence led to massive shorting. What has Grivas done about this, absolutely nothing! He needs to go as he will be a hinderance in thus company moving forward hence will lead to degradation in shareholder returns big time!

ADN Price at posting: 17.0¢ Sentiment: Buy Disclosure: Held
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Why I'm voting against the reappointment of Rhod Grivas at next weeks AGM, page-2

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