UNV universal coal plc

will vote no to resolution 5, 6, 8, page-6

  1. 932 Posts.
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    I will vote in favour of all the resolutions. I expect the company could be 12 months behind where they are now but with a higher share price many people would also be voting yes. One of the best things about this company is the unwillingness to announce fluff just to cuddle the share price. You want to see a bad coal junior...check out ZYL and all the BS that was delivered to shareholders by their management

    "Reasons:
    5. Additional share issue capacity
    10% additional share issue, that will make them to issue 25% without shareholders approval. Not a good idea."

    Why is it not a good idea ? most emerging resource companies request this freedom with share issues annually, it enables them to do their job more efficiently, do you expect the projects to get off the ground without issuing equity ?? Are you forgetting the sizeable shareholding the board of directors have in this company as well as the large number of options they hold that are in the money at a much much higher share price than todays

    "6. Adoption of an employee share plan
    Without details, the exercise price and how much they will issue."

    Are you are against both increasing the fee pool and issuing shares as remuneration, the company cannot be run or grown by amateurs. I expect the number and exercise price of the options will be determined by the remuneration committee and ratified at AGMs in the future

    "8. Non Executive Directors fee pool
    From £200,000 to £500,000, Looks greedy, ask for 150% pay rise, but share price down more than 60%."

    This has nothing to do with what the share price is sitting at and it is not just a pay rise, they would like the flexibility to increase the number of independent directors in line with the foreseeable growth in the company, makes sense to me
 
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