AGM plus30 Jun 2017 17:01
When I began the “RNS” thread just after 8am, I’d barely had time to take much of its content in, beyond my observation about now owning the parrot, as I was in haste to leave for the company’s AGM at 10am. Staying on in London for a while before returning, I find the RNS has, unsurprisingly, sparked off a mini-explosion of posts to read.
So thank goodness there is absolutely nothing (but see below!) to report back from the AGM, which was held in Liberum’s swish offices in the City. Still only about a dozen attending, plus the Board, so twice as many as last year’s 7!
Just the main formalities of receiving the Report and Accounts; re-appointing all the officers etc for another year and approving the directors’ authority to allot shares...[see the AGM Circular .pdf on our site if you must!]
But the good consequence was the plenty of time left for the chance to meet and chat over coffee with the new directors – in particular of course, CEO Nico Bezuidenhout himself. But I also enjoyed lengthy chats with Rashid Wally, the new Non-Exec Chairman from 1 Apr; Peter Hyde, our newest Non Exec Director joining a week before; and “old-timer” Bob Burnham, who has been at 4 out of the five AGMs I’ve attended and, inevitably, worked with Ed Winter for much of that period.
All very relaxed and the news to pass on to you all is that Nico, not to mention the other three, is a frequent visitor to this Board. They all added to my confidence that the company is now in much safer hands – a view with which I know many of you have still to agree.
I had prepared a, typically!, lengthy pair of questions to ask but when I checked in to the Board first thing this morning, I was amazed to see the coincidence that both my queries had been resolved by many of your posts last night! I had planned to comment on the situation concerning the in-flight magazine – now sorted I see; and more importantly, try to resolve a proper channel for any of us to communicate with the BoD when we had a serious issue that was causing concern or serious criticism.
I noticed that that too had been raised by PJMInvest last night, posting the stock reply he’d received over Nico’s name.
Mr Bezuidenhout confirmed this during my chat with him this morning, together with the standard non-practice of entering into dialogue with individual shareholders. But in telling me of his regular visits to this Board, he added how it does provide a very useful and broad input from a wide range of private investors’ opinions to which he and his colleagues can react to as considered relevant and appropriate.
I personally think that’s a most satisfactory compromise and provides some reassurance that our voices are heard and, without being too naive, maybe acted upon.
And the unexpected icing on the cake, is to return to see the Share Price has jumped over 16.5% – a level not seen since