For anyone to look over...This is how I intend to vote. Happy to be corrected if anything is not right here but its how I read it. If they change some resolutions then I may vote differently....but this is how I see it basically.
Agenda Item 1. Vote yes unless you believe that some of the sums are a bit off. Personally I dislike the travel expenses and will vote no because no company without revenue needs to spend $500k AUD on travel in a year. Buy a Skype subscription if you need to for gods sake. This is also not including the $56,000 USD owed to LDN for his travel costs that are unclaimed so far and that amount is the same for the last two years?....Strange that.
Agenda Item 2 Vote Yes I have no reason not to vote him back in.
Agenda Item 3. Vote Yes I have no reason not to vote him back in.
Agenda Item 4. Vote NO. CEO is paid enough already and has delivered no revenue to the company or added to shareholder value. This resolution can be re-tabled next year if BRN gets some deals and revenue. The other part about his tax issues are "tough luck pal". You earn good money and you have to pay tax. BRN is not your tax shelter and should not be used as such. This is a complete piss take.
Agenda Item 5. Vote NO. Performance rights should not be free. He raised capital...21 million dollars and they are spending it like the Kardassians. If the company wants to issue performance shares then they have to set milestones and targets that the CEO and management should be hitting to get them. So far its been webinars, promises and not much else. If you think about the wording here you will have to agree that these are just freebies to our CEO and not much else. Performance should include shareholder value and revenue increases...not just being able to raise capital through calling for capital raises. Stinks of XPE....Grrrr.
Agenda Item 6. Vote NO. No Revenue currently and diluting of shareholders taking place without requiring approval meaning they can give away shares to anyone without requiring further approval. They can also loan money to themselves to buy shares under this scheme. Get some deals and become a company that pays its own way...not bleeding shareholders to pay the bills. 15% placement is a misnomer. It means if you vote yes you are allowing them to actually place 25% of existing shares into the market yearly and more dilution takes place for 3 YEARS. So 3 years from now they could have placed 75% of the current shares on offer COMPOUNDED to the market and diluted shareholders to next to nothing while increasing their holdings.
Agenda Item 7. Vote NO Directors trying to get a 50% pay rise and have delivered nothing of value. Nothing but a
money grab here
Agenda Item 8 Vote NO Directors trying to get a 50% pay rise and have delivered nothing of value. Nothing but a money grab here
Agenda Item 9. Vote NO Directors trying to get a 50% pay rise and have delivered nothing of value. Nothing but a money grab here
Agenda Item 10. Vote NO Directors trying to get a 50% pay rise and have delivered nothing of value. Nothing but a money grab here
Agenda Item 11. Vote NO Directors pay rise....not hard to work out that a 50% pay rise is just stupid. . Nothing but a money grab here
Agenda Item 12 Vote NO So if you vote yes.....they can issue 25% of the companies shares to new buyers and dilute you to death.
Agenda Item 13 Vote NO....All options should be allowed to expire if the strike price is not met. That is the whole idea of a option like this. Adding time to them means more dilution to shareholders against non performance of the company. LDN get 6 million more shares in 2026 at strike price of .225 meaning there is no incentive to hit strike price for years to come and he can use them in any takeover process to fatten his payout.
(20min delay)