I have been giving the vote against Peter van der Made a great deal of thought and looking at the numbers.
Why did I give it so much thought well because a poster here expressed remorse about having not bothered to vote.
I therefore have decided we need to start now and marshal the retail vote for next years AGM for two reasons.
The first is we need to let Peter van der Made know that he is appreciated and fully supported by retail for his genius and generosity in allowing us to share in his creation and in due course his wealth.
The second is to let the party or parties that engaged in this display of strength know that retail will have none of this nonsense in future. I have calculated based on the figures in the Annual Report the following:
1. Retail holders in the category of less than 100,000 shares have total voting rights of 388,154,326
2. Retail holders in the category of more than 100,000 shares and less than 5,800,000* have total voting rights of 575,226,045
(* 5,800,000 is the last holder in the top 20 list)
3. Peter van der Made received 238,100,194 votes
4. This means as a starting point there were at least 105,054,132 votes by retail investors with less than 100,000 shares not voted.
5. Of the 575,226,045 shares above 100,000 and below 5,800,000 I am allowing that 50% of these are held by institutions of one form and
another which leaves a further 286,113,022 shares at least which could have been voted in favour of Peter van der Made.
6. This means had all of retail voted for Peter van der Made he would have received a total vote of at least 629,267,384 votes the most of any
Director.
Now retail investors should note that to stop any takeover all you need is a blocking vote of 25% of the shares entitled to vote and it just so happens that retail investors at 629,267,384 shares (which is a minimum) well exceed 30% of the shares on issue and can decide if a takeover offer is accepted. Had retail voted for Peter van der Made in these numbers a clear message would have been sent to Brainchip about the importance of the retail vote.
I do not say this to rabble rouse but simply to make the point that we retail have much more power than most understand and all companies rely upon this lack of understanding by retail most of the time.
As a retail shareholder I am not putting that retail should in anyway control the day to day operations of the company but retail shareholders should be properly respected by all parties including institutions and those with 100 million share voting blocks who are trying to kick some shins for whatever vested stakeholder reason/s.
Brainchip is a public company. Retail shareholders with one share have the same rights as someone with 100 million shares but they need to vote to have their position as a retail shareholder respected and acknowledged.
I will leave it to you all to ponder but in this electronic age retail should be able to come together as a block and vote as a block to ensure that no individual or institutional investor with six times less voting power can manipulate the company to their ends behind the scenes.
My opinion only so do your own research and remember my maths is poor sometimes so DYOR
FF
AKIDA BALLISTA
