EDIT: Sorry my bad, in its mind, it was not its first post, so we should give it benefit of the doubt, carry on RAT
Salams bro, I wonder who this LTH is whos been pro AVZ since 2017?
AVZ Discussion 2022
- Thread starter GazDix
- Start date
Salams bro, I wonder who this LTH is whos been pro AVZ since 2017?
Defamation is core to their lawyers business that is why he attended the meeting yesterday.
TheCount
Regular
First strike I see as a win for retail holders. Fancy asking for more money just because they have to travel TO WHERE THE ONLY COMPANY ASSET EXISTS. FFS gents - you knew the mine isn't in WA didn't you?
Second strike and the BOD "may" be voted out:-
A company will receive its second strike if a resolution to adopt the remuneration report for the following year receives another "no" vote of 25% or more of the votes cast. If this occurs, a resolution that a special spill meeting be held must be proposed at the AGM where the second strike is received (section 249L(2), Corporations Act).
A spill meeting must be held within 90 days if that spill resolution is passed by an ordinary resolution (more than 50% of eligible votes cast) (section 250V, Corporations Act).
All directors will be required to stand for re-election and will cease to hold office immediately before the end of the spill meeting, unless re-elected (section 250V(1), Corporations Act). This does not apply to the managing director, who is permitted to hold office indefinitely without re-election (section 250W, Corporations Act) or any director appointed after the most recent remuneration report was approved by the board.
So, the chances of the toads having another crack are infinitesimal, but it does indicate to the BOD they can't just issue bonus' ad hoc..
TC.
Second strike and the BOD "may" be voted out:-
A company will receive its second strike if a resolution to adopt the remuneration report for the following year receives another "no" vote of 25% or more of the votes cast. If this occurs, a resolution that a special spill meeting be held must be proposed at the AGM where the second strike is received (section 249L(2), Corporations Act).
A spill meeting must be held within 90 days if that spill resolution is passed by an ordinary resolution (more than 50% of eligible votes cast) (section 250V, Corporations Act).
All directors will be required to stand for re-election and will cease to hold office immediately before the end of the spill meeting, unless re-elected (section 250V(1), Corporations Act). This does not apply to the managing director, who is permitted to hold office indefinitely without re-election (section 250W, Corporations Act) or any director appointed after the most recent remuneration report was approved by the board.
So, the chances of the toads having another crack are infinitesimal, but it does indicate to the BOD they can't just issue bonus' ad hoc..
TC.
John25
Regular
Cumquat Cap
Regular
Wonder how much of Zijin's money they managed to blow through, i'm guessing circa 500K
Well apparently MOU discussions were well advanced prior to the MMGA maggots getting involved, so now that they are out of the picture, AVZ can resume discussions with strength and conclude a deal
AVZ BOD have mentioned many times that they want to negotiate favourable terms and get the ball rolling with Manono ASAP, so how long, who knows, i dont have a crystal ball, but if i was FT and with elections looming , i would want to strike a deal and provide the locals with some hope of better times ahead and improve my chances of getting re elected , cause up to this stage, he has achieved fuck all and performed worse than Kabila.
imo
I sincerely hope an MOU can be reached prior to the election (how that will stand post election I cant even guess), I dont hold alot of faith in the integrity of their elections though (not even ours tbh lol) so without me knowing whats going on behind closed doors its really hard to ascertain any outcome. I can only assume the brown paper bags will be flying left right and center from what we know about the RDC, and it seems to be all a matter of the stars aligning in our favour. From what little I know I do agree the board is doing everything they can legally to get us over the line and some rulings in our favour at the ICC one can only hope puts a massive dent on the aspirations of our enemies
I do truly understand all the positive, Im just trying to keep a level head for all the reasons I've mentioned
Nothing unusual about the BoD asking for bonuses as it applies to many other Aussie BoD's working offshore and is due to the expertise needed in dealing with foreign government's to advance their businesses.
In my opinion they deserve to be well remunerated for achieving their goals that is why I voted for that resolution.
Working offshore, when the Company's only asset is in DRC is more than expected imo - especially if you are in senior management/executive team.
That would and should form part of their more than adequate salary.
The bonuses should be tired to specific KPI crtieria. $1M in bonuses for spending majority of the time outside of Australia - is not, imo, fair and reasonable to the shareholders of the Company. Especially in a time where cost-cutting measures are important.
Fairly certain it will be a hard hitting piece about how the cookies at the AGM were hard as rocks, which could lead to the delisting of the company.
Samus
Top 20
It appears enough of us voted against resolution 1 to fire off a warning shot against the BOD. Probably helped along by the MMAGOTS but hopefully it keeps them on their toes because if in 12 months time we're still in this situation then I doubt they'll be enjoying the current level of support.
MMGA needed to be ousted but the BOD can't continue taking the piss either.
"In my opinion they deserve to be well remunerated for achieving their goals that is why I voted for that resolution."
Which of their goals do you believe they have achieved Geo? It's a shambles.
That's largely the fault of our opponents, but nonetheless it's difficult to argue that their recent renumeration is in any way results-driven. They should certainly be applauded for the hard work they have done to resist the strategies of our enemies, but we haven't actually achieved much during this renumeration period beyond staving off outright disaster.
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Regarding the de-listing by the way, NF said afterwards that the company will not be seeking the end of the suspension until everything regarding title etc. is fully clarified. When someone questioned whether this meant there may be a de-listing, NF stated that if we are de-listed by the ASX that we will essentially act for a time as a 'private company's until its possible to re-list with the ASX, and if that isn't possible then there are always other exchanges to list on.
I'm not commenting on this claim, just passing on what I heard stated.
Cumquat Cap
Regular
That' is very much NOT what I am looking for, that would be a fkn disaster in my opinion.
Time for management to yield results/turn the pressure cooker up (they seem awfully relaxed all the time while i've gone grey in the past 2 years).
Time for management to yield results/turn the pressure cooker up (they seem awfully relaxed all the time while i've gone grey in the past 2 years).
Just wanted to add my sincere thanks to those on the forum who attended the AGM yesterday and have subsequently shared the experience with us today
We are privileged here to have some incredibly genuine, hard-working and concerned shareholders who understand the community spirit that keeps us bound together through these difficult and challenging times and who are willing to go the extra mile for the greater good
I think I would have lost my mind some time ago without the opportunity to share the AVZ experience with others here on TSE and for that I am eternally grateful
My take on it all at the moment is that we have had a decent win over the MMGA goons and sent a strong message to them that they and their Chinese masters can fuck right off
Nevertheless it's only one more battle that we have won in a larger war that looks to be far from over
Still everyone should take a moment to reflect on all the hard work by contributors on social media that massively helped nullify and ultimately defeat the corrupt attempts to overtake the Board and take a small amount of time to acknowledge and enjoy the victory
With regard to the remuneration report I understand why many didn't support the resolution although I did simply to try and add some protection to the current board on the remuneration 2 strike spill
We may have to deal with that next year and it may be an opportunity for the Goon Squad to have another crack but we will have to cross that bridge if or when we come to it
I will say though it has sent a message to the Board that shareholders want to see tangible results and outcomes and KPI's achieved going forward before bonuses are considered or paid out
I am certain the current Board will take careful note of that strong message that was delivered via the AGM
So after a brief pause to appreciate defeating MMGA and Fat Slob Holdings it's going to be back to work supporting AVZ and the Board in their efforts to progress the MOU, secure the ML and get Manono up and running for the benefit of all stakeholders, shareholders, the good people of Manono and the broader population of the DRC
Let's go AVZ!!
#FuckZijin
#FuckMMGA
#FuckHuljich
#FuckCarrick
#FuckLudbrook
#FuckCorruption
#FuckCong
#FuckTommyRichardson (twice)
#FuckTheAFR
#FuckYEAH!
We are privileged here to have some incredibly genuine, hard-working and concerned shareholders who understand the community spirit that keeps us bound together through these difficult and challenging times and who are willing to go the extra mile for the greater good
I think I would have lost my mind some time ago without the opportunity to share the AVZ experience with others here on TSE and for that I am eternally grateful
My take on it all at the moment is that we have had a decent win over the MMGA goons and sent a strong message to them that they and their Chinese masters can fuck right off
Nevertheless it's only one more battle that we have won in a larger war that looks to be far from over
Still everyone should take a moment to reflect on all the hard work by contributors on social media that massively helped nullify and ultimately defeat the corrupt attempts to overtake the Board and take a small amount of time to acknowledge and enjoy the victory
With regard to the remuneration report I understand why many didn't support the resolution although I did simply to try and add some protection to the current board on the remuneration 2 strike spill
We may have to deal with that next year and it may be an opportunity for the Goon Squad to have another crack but we will have to cross that bridge if or when we come to it
I will say though it has sent a message to the Board that shareholders want to see tangible results and outcomes and KPI's achieved going forward before bonuses are considered or paid out
I am certain the current Board will take careful note of that strong message that was delivered via the AGM
So after a brief pause to appreciate defeating MMGA and Fat Slob Holdings it's going to be back to work supporting AVZ and the Board in their efforts to progress the MOU, secure the ML and get Manono up and running for the benefit of all stakeholders, shareholders, the good people of Manono and the broader population of the DRC
Let's go AVZ!!
#FuckZijin
#FuckMMGA
#FuckHuljich
#FuckCarrick
#FuckLudbrook
#FuckCorruption
#FuckCong
#FuckTommyRichardson (twice)
#FuckTheAFR
#FuckYEAH!
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