AGM Continued Post 717 Feb 2025 02:06
AGM Continued Post 7
RE oversaw the AGM and the format was that all questions must be put to him. So, If I want to ask FG a question, I must ask RE to ask FG.
To understand the situation at this AGM, there was a PRN issued on 18th July 2017 headed “Response to Market Rumours” which said:
“The directors are also aware of attempts by certain shareholders to block, at the forthcoming AGM, the special resolution to allow the Company to issue a set number of shares during the year to support possible future funding requirements, should it be needed. Should these attempts meet with success, they would significantly impede the ability of the Company to finance its activities which are currently focused on returning value to its existing investments. These investments currently do not generate sufficient income to support the Company and, if the Company is unable to raise equity, it will be forced to seek further debt. This may not be in the interests of the shareholders as a whole.”
This was because I had garnered support from shareholders.
At the AGM, RE tried to conduct it in the normal way but I would not allow that.
CLP (QBT) wanted to vote on all the Resolutions without debate. I objected. I tried to direct my questions to FG but RE kept saying I had to ask all my questions through him.
I said something like, “how can we vote for say approving the accounts, when if after a vote has been taken and then after the AGM business is concluded and we talk and I say something about errors in the accounts, what would that mean for the vote?”
RE asked if there were any errors in the accounts and I said yes. And Peterhouse Corporate (Lucy Willaims) scrambled to access the accounts. I had numerous copies of several years’ accounts (with errors)
Later Auditors at great expense had to amend the errors.
The AGM proceeded and Ordinary Resolutions were past. Then before the Special Resolution the Nomad who was sitting to my left said something that was contentious. This made me angry. I asked RE to ask FG if he agreed with the Nomad and if he did then I said we could go to the vote as I totally disagreed with the Nomad.
FG shook his head and said he did not agree with the Nomad. It was at that point I knew I had FG’s confidence in what I was attempting to achieve, and the Special Resolution was passed.
I had a private meeting with FG, we discussed our Nomad (history tells you what happened to them with my help see PRN 26th January 2018)
Also, FG and I discussed Placings, and we came to an understanding about “Warrants” History will if you look we have not issued too many Warrants but we will issues 100’s of Millions @ 5p & 10P
RKB