The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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My Xmas break starts tomorrow. Hence, I am looking forward to the outcome of the agm with eager anticipation:)
I do hope that NM survives come what may.
Aquinaga, I think I had a screen of about 7 greenlines on the trot yesterday so looks like they have been reduced to talking with their own multi aliases... poor old LSE... their advertising rev muct be dropping these days.
Nal, I couldn't resist unfiltering you for this one.
You appear to believe you're invested in an Australian company. Sorry to disappoint, but the directors are employed by a UK registered plc and are subject to the UK Companies Act. It may also help if you read our Articles, which are also governed by UK law. Section 19 will tell you what you need to know.
Hope this helps.
Oh god two more green box galahs just popped up. There’s a whole flock of them!!
Over here we have green ring necked parakeet. They are an invasive species and classed as vermin. Not dissimilar to the great green box galah here.
The parakeets are pretty but my goodness they make racket!!! Oh the similarities!!
Furthermore COWN. Read the second line.
"Name and type of company
Decision-making and board member selection structure
Nature and extent of liabilities of company members
Details of company shareholders
Business objectives and activities of the company
Rules and regulations pertaining to share issuance, board resolutions and director duties"
DECISION MAKING AND BOARD MEMBER SELECTION STRUCTURE.
If newmont do abstain, then Scott should fly through as CGP and Mather et al have plenty of votes to see him clear against BHP and a few others.
I'd like to know if the 5%+ SOLG/CGP shares carry votes and if they do who's responsible for casting those and on who's authority??
I would expect most resolutions to make it through as well ... but remuneration might be a close one.
The CGP boys simply have too much ownership overall now compared to last year. Which probably explains why the arrogantly strolled into this AGM delivering zero and expecting to breeze through.
I expect the share price to be back into the teens in January is the recent suppression is down to tax selling and sellers dry up.
But I think the last few months has been a wake up call for Scott and Bob. I think they've heard the voice of shareholders now and know that a loss of confidence vote can be raised on them at anytime shareholders choose via special meeting. So they need to deliver and deliver fast as thus far it's been woeful and they know it.
Aquinaga. Still reading my posts. Have you no pride.
No inaccuracies in my post. Read it clown.
The Australian Securities and Investment Commission (ASIC) requires that each company must choose to use their own Constitution or adopt replaceable rules from the Corporations Act 2001(Cth) or use a combination of both. Therefore, before you register your company, you must either draft a Constitution or seek to adopt the replaceable rules.
Addicknt,
I think the default for players like Newcrest/Newmont is to vote against the minnows. We know that's BHP's stance. Some big ego's in the aussie and canadian mining patch so bit of that involved too.
Newmont have said that SOLG are way down their list of priorities which in mining language could mean we are the most important thing to them right now lol! So for them to vote against SOLG would imho show their hand a bit. It would suggest that they are in the game and running and send a signal to BHP. So you'd hope they play it cool and do the honourable thing and just abstain.
I presume more inaccurate 💩 from the galah this morning. Green boxes everywhere!
Must be worried Christmas is coming and he’s been a very naughty boy!
Great green box galah, tastes like chicken just a whole lot more bitter and twisted, Merry Christmas one and all!
Addikt so authorative, so sure everything you post is fact.
Regarding the appointment of a new board.
I wonder if you could cut and paste for us all to see.
"The company constitution rules."
Companies in Australia mostly have these for just such an occasion.
Adikt. What don't you get. Newmont are a little bit more savy on solg affairs than you. Although I realise you find this hard to comprehend.
And maybe like many others have decided things can't carry on as they are.
The fella I think you used to post under was padmaster.
He went years seeing no wrong, and frightened of his own tail, or upsetting the board.
If your not him, your his doppelganger.
He ended up being proven 100% wrong also
Precisely anon, Jerry's post did make me laugh. He's covered off Scott's achievements this year very well. I think he's got himself confused lol!
Roxi, bear in mind the vote on re-election is advisory and, in theory, can be ignored by the Board. So if SC only gets 60% of the vote, he can legitimately argue he has the support of the majority. In practice it's a different matter, as Mather found out to his cost. If it's only BHP and a few disgruntled retail investors who vote against, the vote will be disregarded.
The one thing I don't understand is why Newmont would vote against. Why would they want more chaos at a critical time for the company? It doesn't make any sense.
Shipright. I think if the past is relevant. The new board will be whoever mather wants.
To say ned will pick the new board is ludicrous.
Just as an aside. Western Australia have just announced a budget surpiuss of 3.7 billion.
Yes billion.
Not australia. Just Western Australia.
How lucky are we. Fmg up to $25.
Living the dream
Ship, the current non-exec directors, probably on the advice of major shareholders.
It wouldn't make sense to continue without the "Main Directors", running the show, an EGM would have to be arranged , imo with new Candidates being put forward from shareholding groups with largest holdings,
Maybe the Chinese investors would put forward a Candidate?? now that would be interesting ?
So not too disimilar to how it is now?
So who would choose the new board?
Roxi, no there would not be an EGM to approve a new board. Putting it bluntly, we'll get what we're given, and we may not like it.
Quite right, Jerry. People have short memories.
I just got an email from ii reminding me to vote by the 15th.
Have a great day all.
Colonel, you say that Scott picked up a business that was in fine shape.
I would say that the business was in a mess, not fine shape. A disorderly board, unclear strategy, burning through cash on irrelevant salaries and activities not normally associated with companies in the mining/exploring industry. Major shareholders at loggerheads with the board. Senior directors leaving the company.
Scott had a lot of sorting out to do, of this company in ‘fine shape’.
1. If all resolutions passed, carry on with SR into 2024,
2. If BOD are voted off-will we have an - EGM?, to elect new BOD and where would they come from, who would put such a proposal forward, a broken and rudderless ship could lead to a low bid takeover bid imo
soon find out tomorrow
1984, they block you because you quite often talk utter sheite and in a derogatory manner too.
Strangely enough, I haven't.
It's probably down to the comedy value, tbh.
As I posted earlier covgaz it's all become a bit of a popularity contest here a bit Ike the X factor is all bluster and no substance 😉
ONWARDS AND UPWARDS !!!