Well it wasn’t anything unexpected. Most people here knew there was not going to be anything of material value that would be announced as there was no ASX announcement.Is it fair to say the AGM presentation was a fkn train smash and this was reflected in the share price?
One can be independent but of the same parent...That’s quite an interesting take but I’ll have you know TSE is completely independent. I know we love a dot join here, but come on…
I started this forum because I was sick of the status quo over there. Since then, in order to remain impartial, I refrain from commenting on the stocks (as is the ASIC guideline) and that was my own personal loss I did not envision. It’s no longer “fun” for me in any way, but then to hear this ridiculousness is just icing on the cake.
One can be independent but of the same parent...
Give it a rest champ for the night. Sounding a bit like alwayscooked.One can be independent but of the same parent...
LMAO....I would also like to comment quickly on one corporate issue. When I joined the board, I was introduced to the concept of a “strike” which came from the shareholders voting down the remuneration report in the year prior to my joining. I will admit, when I first came aboard, I was surprised at some of the previous compensation models. Rewarding for performance has indeed been something I have been personally focused on since I came here. As I would hope you all have seen in the 2022 Remuneration Report, we now have an active annual bonus program and LTIP (Long Term Incentive Program) for employees and executives that have defined metrics. The plans rewards upside, and strongly incentivizes with upside, but mitigates payments if metrics are not met. In 2022, the annual bonus paid roughly 60% on average. It is too early to comment on the 3 year metrics of the 2022-2025 LTIP. There is a balancing act here. We do need to recognize that we are competing in the global technology market. The reality is that the global technology market is incredibly competitive with respect to talent. Hiring proper talent is a MATERIAL RISK for Brainchip, and one which I do not see easing in the future. Tech talent is expensive. I realize this may run counter to Australian norms with respect to other markets - but the cold reality is that we need to be globally competitive. I believe we have now struck the right balance with our current compensation models. Could we raise the bar further? Maybe, but if we make it too high, people leave, then we don't have a company. There is no “available talent pool” in the
Page | 3
current market. The "polar opposite" is the case. We find ourselves constantly trying to recruit talent. In fact, we are constantly trying to pull people away from other companies to join us. The good news is that we have shown success in bringing great people to work here and it is paying dividends.
Let’s get this right….. you haven’t met your targets and still expect to be compensated.
You haven’t signed IP deals the last 12 months, which means you have met the Aussie norm standards.
Our company needs a reset on standards going forward …
Better communication with your shareholders will be a start.
As I mentioned recently, let’s not let our company become a boys club.
It's not an accusation; this place is nice for accessing research.Your (accusation?) that I am somehow a plant or in some way connected to BRN is a complete fallacy.
Also you need only visit the homepage to see other stocks are quite active here. If you are going to make stuff up, at least make it believable / good. Now cut the crap.
Yep as predicted.LMAO....
You're still here after your "PREDICTED" post?
Did we see his best on this one really important day of the yearI could be wrong but I think he had to read from the document so he doesn’t stray from the script as that is the same as the ASX AGM document; CEO’s address.
I would like him to be more charismatic and a better public speaker however that is one job on one day a year. It’s the other 364 days I’m concerned with. Maybe he’s excellent in small groups building a rapport with customers rather than public speaking; I know I don’t enjoy it. He was hired with a lengthy sales experience history of building ecosystems and a plan approved by the board so suggesting he has some skills.
Problems were identified and solutions given. It’s better than pretending everything’s rosy.
I thought the remuneration was explained quite well. The packages were set for a 3 year period based on KPI’s including the SP. The amounts were the total they could get if they achieved %150 over their targets. They get less if they achieve less. Sounds fair to me.
Ken and Antonio were up front about the Manny situation. Antonio agreed it was too generous and has fixed the system to reflect the market and company size; but that was historical. However if we want good people in a competitive market we have to pay them; no arguement from me. Ken was honest stating this was a quick, clean, friendly way to avoid litigation. Essentially, you can look backwards, pointing the finger with he said, she said or forwards and remove the distraction to focus on commercialisation. Only guessing here but if Manny argued that if he had his shares when the price was $2+ they would have been worth a lot more which is what I think Ken wanted to say but couldn’t. However the mistake happened it’s now dealt with but if Manny didn’t have a case to answer then I’m sure it wouldn’t have been as generous an offer. I don’t know anyone who has never made a mistake before; glad we’ve moved on from it.
Renesas is still putting out a chip with us. MB still building cars. NASA making rockets. GF making AKD1500. TEKSUN doing presentations with our products. ARM, INTEL, SiFive still making systems. Gen 2 being made for better commercialisation success. Gen 3 in the pipeline.
Potentially a longer wait but it is what it is!
"Some shareholders also rightly expressed frustration in a respectable way and hopefully management use it as inspiration and motivation to at least communicate better"Well it wasn’t anything unexpected. Most people here knew there was not going to be anything of material value that would be announced as there was no ASX announcement.
Antonio did a great job at giving further explanation on a few key issues ie not announcing partnerships via ASX, clarifying why the development cycle is so long for those who aren’t in the know and a few other minor things I can’t recall off the top of my head.
Sean read his presentation and stumbled along it quite a bit. Did not perform well under the pressure of the Q & A in my opinion. Not that it truly matters, as long as he can perform when it comes to closing deals in the next few quarters, his public speaking skills won’t matter in the slightest.
Not a train wreck, just a summary of a pretty poor twelve months. Some shareholders asked a couple of good questions but didn’t amount to much in terms of answers. Some shareholders also rightly expressed frustration in a respectable way and hopefully management use it as inspiration and motivation to at least communicate better.
Hop, if you think the reaction to, and strike-down of, remuneration is childish, then I suggest that you do not understand the notion. The majority of shareholders voted this.Just my short take on todays proceedings.
I attended and video recorded the AGM today and am surprised at all the negative comments I am reading here.
In all honesty it makes me wonder in just what alternate reality the negative AGM they attended occurred?
Of course, many have barrows they wish to push and opinions are malleable according to circumstance and motivation.
After the formal AGM there was a more relaxed get together of all the Company participants and maybe 30 or so TSEX denizens where a few sherbert’s were consumed and everyone present was able to voice their concerns, express their opinions, grumble about the share price and ask all the questions that have been nagging at them. I guess it was a similar experience to those that happen semi regularly in Perth when those of our crew who are local get the chance for some face time with PVDM and whoever else can make themselves available.
It was a great opportunity and in my view well worth the travel and accomodation expense incurred.
It was very reassuring to meet and engage with these people one on one, and to not only have their ear for a while, but more importantly, have the chance to hear detailed explanations tailored to your specific inquiries. I found everyone I spoke to engaging and engaged, cognizant of shareholders concerns and gratifyingly working as a team to push Brainchip as fast as possible towards widespread adoption and success for both themselves and us.
The actual AGM was well attended and run courteously and efficiently by Antonio with assistance from Sean and the other members of the board.
Given both time and confidentiality constraints I thought they handled the general business of the meeting and answered the questions of concern both forthrightly, honestly and intelligently and in each case either put my mind to rest or provided colour to some concepts which previously, for me, had merely been empty line drawings.
The only touch of evasion I perceived was perhaps in regard to resolution 8 regarding the options replaced by shares dealio.
I was left with the impression that this was some kind of a mess up from the past with no real easy clean up solution, that they have wrestled with, run scenario’s, examined possibilities, and come to the considered judgement, after seeking professional advice, that this was the best way to disappear this issue once and for all.
Having learned painful lessons from this affair they have also taken steps to ensure it does not reoccur.
In my opinion, its a can of worms hanging over them from past times they just wanted to send to sleep with the fishes.
As far as the strike down of the remuneration report is concerned, it seems to me like a childish reaction.
I understand the sentiment and notion of disappointment from my fellow share holders and have sympathy with the underlying feeling but stand by my earlier comments that this is something akin to the action of spiting ones own face by cutting off one’s nose.
I hope everyone who voted it down feels they have now extracted their pound of flesh.
Please take the time to listen to the explanations and rationale for these measures and how the current board has evolved its approach to this volatile topic in line with share holders sentiment and sensitivities in mind.
The putting out of eyes makes everyone blind.
I’m tired now and have sympathy for our team who have been in meeting after meeting today performing for audience after audience.
If I’m tired, they must be buggered!
Thanks to all the good natured and genuine thousand eye’s I met today and now have faces to add to their monikers, and to those friends from last year I got to see again today and Thank you to PVDM and the team you have assembled about you working to birth and bring beneficial AI into our world. We do that and the dollars will follow.
Also, a big shout out to our good friend FF who was sadly missed today.
Hoping to see you next year.
AKIDA BALLISTA
AKIDA EVERYWHERE
GLTAH.
Hi DK6161,Sorry, and where did you get this info from?
Beautiful. HahaThis made me laugh ,
Bloody brilliant
Simon te Brinke GAICD on LinkedIn: #tech #autonomousvehicles #technology #autonomousdriving
Watch the beautiful reactions from these two elderly gents as they take a ride in an autonomous Uber 😊 #tech #autonomousvehicles #technology…www.linkedin.com
The stable and emotionally intelligent majority has voted.... bravo.This just goes to show that all the bantering on the forums and predominantly "against" stance from forum members here and other places, has had little effect on this resolution.
View attachment 37073
Apparently, at some point in time, a majority somehow voted in a Hitler, a Trump and a Scomo.Hop, if you think the reaction to, and strike-down of, remuneration is childish, then I suggest that you do not understand the notion. The majority of shareholders voted this.
Isn't the one touch of evasion that you detected (re resolution 8) enough for you to question, in a general sense?