especially if that Stephen Matthews gets elected Chairman of...

especially if that Stephen Matthews gets elected Chairman of directors .

From: Stephen Matthews
Sent: Wednesday, 12 September 2007 4:50 PM
To: '[email protected]'
Cc: '[email protected]'
Subject: Stephen Matthews nominates as chairman



Shareholder activist Stephen Matthews announces today his nomination as chairman of listed IT company Commander Communications .



This is a one billion dollar revenue business presently valued in the stockmarket at $100m whose major substantial shareholders have until today been AMP and Perpetual.



In exchange for an issue by Commander of 20 million chairman’s options – and an appropriate base directors benefit - Mr Matthews will embark on a programme of restoration of capital adequacy, refreshment of personnel and introduction of strategic investors into selected businesses . The critical capital raising initiative will be the conduct of a tender with a panel of selected global PE firms who shall be invited to tender capital for certain strategic Commander businesses in IT , Telecommunications , Data and related services.



Mr Matthews – who has 4 years of experience in business development for a global software company – contends that the board has insufficient executive directors and will direct the appointment of 2 executive directors into strategic roles. The present chairperson ms Nosworthy is invited to resign at an appropriate time ..after a shareholders meeting is convened to consider chairman /director nominations .. and summon the board to find suitable other candidates to replace her.



Someone has to pay for the recent turmoil in the company’s shares which have fallen from $1.00 on August 27 at the time of the announcement of the estimated earnings guidance for 2008 in the range of $67million to $75million to 50 cents today. This is a record low share price in the 7 year history of this brandname listed company.




Stephen Lewis Matthews 02 9499 6406 after 7:00pm