Digger are these votes audited in any way. I voted against 5,6,7 and 8 as well with 250,000 shares (in two holdings). I used the chairman as my proxy but instructed him on the forms which way to vote.Quote:
Basically it was a good and fair AGM. For awhile before the meeting it looked like only 4 million of my proxys were to be allowed but Paul Foley fixed it up so that the one from myself and family also counted.Had approx 8 million in total voting against 5,6,7 and 8. Most of the against 5 came from me so i guess voters are wanting new blood. I am personally disappointed that directors have been allowed to hijack the ESOP and use it as their own piggy bank,given that the E stands for employee and none of the directors qualify as a employee. This year we faced two problems the first was that we all started too late in getting organised against resolutions 7 and 8 and the hugh apathy where less than a third of voters exercise there responsbility to get off there a---- and do anything.
I would definately say all is not lost as spoke to most directors and while we did not win this time our views were taken on board.TR is a cunning old fox and this will damping down the grab for next year compared to what would have happened if they went from here with a 100% acceptance.
A number of voters spoke in thanks for the two dividends and this getting something back has left many at the meeting feeling more favourable to the directors than us sharetrader grumbling lot here often express.A few shareholders had never heard of sharetrader.
As i was boarding the plane to return to Hamilton Scamper came up and interduced himself.He sat next to the ACC representative ---but that is his story.
Also met QOH Waaihoek and Unicorn. No Bermuda this year.
With some others spoke with DS after the meeting.He is definately clued up.Gave us some run down of the new Canterbury basic permit and what it could contain but until the drill is completed it remains just hope.
A point that came up several times is that with the dollar falling and expected to be more so in the furure we are still selling TUI oil at 100 NZ so still very profitable.Wrote down the figures but already can not find them.Thing it was about 18 dollars in cost and about 18 again in rolaties and again something like that in tax so the rest was profit.We are pumping about 34000 a day still .Also the drill for next year is getting far more likely.
Cheers for now.Digger