Perhaps27 May 2025 08:54
Statement made following rejection by 33% of votes at 2018 AGM regarding acceptance of proposed remuneration.
"The Board has noted that in excess of 33% of proxy votes received voted against the approval of the Remuneration Report. The Board continues to engage closely with shareholders, and it is the intention of the Chairman to discuss this matter, and any other shareholder concerns, with major shareholders on the investor roadshow following the announcement of interim results in December 2018. In addition, the Chairman of the Remuneration committee is always available to discuss any remuneration concerns that any shareholder may have".
Is Tom Black having problems once more as he did at the 2018 AGM with large institutional shareholders? Is the time it is now taking for any announcement of substance due to matters of a similar nature? If a buyout of the company is not going to take place then additional finance will have to be raised. Major shareholders may once more not be in agreement with what he is proposing. He will need those investors 'on board' along with their votes to proceed in whatever direction he wants to take the company. Should it be a matter of concern to private investors that a long term senior director Colin Evans resigned at the end of October 2024? Did he see what was possibly coming on down the line and wanted no part of it? Let us remember that on a previous podcast years ago a question was posed regarding a similar scenario happening, and the answer given was that 'long term shareholders would be looked after'. Has this position changed? I personally hope that a buyout will take place, but is by no means certain. An alternative that could happen is for another floatation to take place, and once again one where large Institutions/backers receive preferential treatment. We (private holders) should also be aware that Tom Black holds a senior position in Herald Investments, a very large holder of Thruvision shares.
N.B The original resolution 12 that was posted prior to the 2024 AGM on the 17th July 2024 was superceded with additional text only 2 weeks later on 31st July. The changed resolution alludes to the very possibility regarding further future share allocations as outlined and mentioned above taking place.