Re: What a glorious opportunity.....
in response to
by
posted on
Apr 19, 2022 12:49PM
FJ stated: “And as far as sending this so-called clear message to management? Do you really believe what you wrote? You think that little group that you belonged to actually had the clout that they said? You actually think they had 40% of the vote? Delusional I am afraid.
Actually, what Dave8370 stated was: “Last years AGM was significant for shareholders as we were able to send a very clear message to management and the BOD that the expansion of the option pool was not supported (my recollection was it was close to 40% no). This was also not widely reported, nor admitted by management but the numbers do not lie. “
The statement made by Dave8370 above is in fact 100% accurate as evidenced by the proxy vote results publicly available found here. (Approval of stock option plan: votes for 60.16%, votes against: 39.84%). By any account, that's a sigifnicant percentage against. It is disappointing that you have spun this into a catch-all “us vs them” argument intended to stir the pot, when it would have been best to simply acknowledge the vote results as a matter of record and moved on.
Re the BOD and their responsibilities. It should be recognized that BOD are shareholder representatives who have a responsibility to act on behalf of both the company and shareholders alike. It is the absolute right for shareholders to hold BOD accountable, all shareholders have the ability (responsibility) to vote for/against any board member at an AGM if we are satisfied (or not) with their performance. You can’t call out individual shareholders for exercising this right, it’s just how public companies operate.
Most disappointing is you use the above this as fodder to denigrate and vilify other shareholders of the company. Normally, I would consider flagging the post as violating Agoracom rule 2. DEROGATORY COMMENTS TOWARDS OTHERS, however, since you may very well be the one ruling on the violation it seems unlikely to be accepted as such. I suppose this note can be used more of a public statement of notice that rules should be applied equally to all. IMO, of course!
That nasty business over with, no doubt there today’s great announcement is the beginning of many positive announcements over the months to come, definitely looking forward to this.