BLT - Blis Technologies

[emearg]

They should rebrand as Blis Probiotics. Blis Technologies means zip. Keep the company name by all means but as far as marketing/branding goes they need to be more relevant/meaningful.

[davflaws]

They should rebrand as Blis Probiotics. Blis Technologies means zip. Keep the company name by all means but as far as marketing/branding goes they need to be more relevant/meaningful.

I completely agree, and I am currently sitting here wondering why I didn't see that before. They should certainly be trading as "Blis Probiotics"

[ohpark0119]

Wow. That crappy old site is gone. Blis finally entered 21st century in web design.

[gmatt]

Wow. That crappy old site is gone. Blis finally entered 21st century in web design.

Someone likes the new website ....... single buy order in of 4,532,000 at .033c

[ohpark0119]

Someone likes the new website ....... single buy order in of 4,532,000 at .033c

Yep $148k worth :0. That can buy up to 0.04c.

[Meextr]

Someone likes the new website ....... single buy order in of 4,532,000 at .033c

They may have missed the boat.

[RGR367]

They may have missed the boat.

Surely the start of "something big" for the company

[Meextr]

In the words of Diana Ross "I'm Still Waiting"

[pierre]

I received the notice of this year's annual meeting of shareholders in the mail today.Included on the agenda is a resolution to increase the aggregate amount payable to non-executive directors from the current total of $150,000 (approved in 2015) to $265,000, effective from the fourth quarter of the current financial year.

The explanatory notes state inter alia:
a) Since 2015 the company's business has grown significantly and the role of the Board has expanded and the current fees do not adequately compensate non-executive directors for the work they do.
b) There is a need to increase fees to attract new directors with one of the long-standing directors exiting the Board.
c) The increase will bring remuneration closer to market rates (but will still be below market) as recommended by Signium Executive Search International.
d) The company's move from an R&D focus to targeting market development & sales and that it is now in a different phase in its life cycle, may require it to seek directors with different skills who can assist BLT to achieve its strategic growth plan. (I guess this implies the current directors - or some of them - may not be the right people.)

Two directors appointed in July 2014 retire by rotation but both are offering themselves for re-election despite the current "inadequate" level of remuneration. Veronica Aris has 17 years sales & marketing experience in relevant related industries. Graeme Boyd was CEO of Comvita form 1998 t0 2005 and is now a consultant specialising in company turnarounds, growth strategies and international marketing.

I'm not sure that the timing of this request is particularly opportune with the company failing to meet its earlier guidance and still not recording a maiden profit. I am sure though, that there are plenty of long-suffering shareholders who have supported BLT through thick and thin who would like to see a positive result achieved on the bottom line before they start paying the directors any more.

Maybe though its a chicken and egg situation and if BLT can attract new directors with different skills we may start to see the results we are anxious for the company to achieve. I would be interested in the views of other holders on this resolution.

I am unable to attend the meeting this year (I went in 2016) but would be prepared to consider giving my proxy to someone who can attend, listen to the discussion and cast a vote in line with what they consider to be in the best interests of the company.

Comments welcome.

Pierre

[Brain]

There has to be some correlation between renumeration and performance. Paying directors in anticipation of good results is not the way to go. Too many N Z companies have very poor performing and over rewarded directors. I do not know what it is like in other countries say USA for example but I suspect that non performing directors would be quickly removed. Not the case in NZ . I am sure Sharetaders could name a number of companies that have collapsed because of dishonest and incompetent board of directors and incompetent CEOs Or CFOs

Bliss has Very good product I use it myself. Unfortunately I have no confidence in the management . I sold my shares a few weeks ago. I will buy back in again if I see a change in performance.