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  1. #5596
    An Awesome Cool Cat winner69's Avatar
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    Quote Originally Posted by McGinty View Post
    Agree with you there Mr Beagle, last year I backed up my own opinion, flew up to the AGM to asked questions to (what came across as) a smug board. In the weeks following that I voted with my feet and now visit the thread only to see if the story has changed - short answer yeah - nah.

    This years AGM can will be just a fluffy summary of:

    - How the boys club couldn't make the vertical integration (multiple clips of the ticket) work and now they are looking to sell the problem parts.
    - Moving into possible new digital distractions (CL8's business model is a lemon and they aren't quick enough to see this yet)
    - Over paying for Buyright and the non recourse loans are just a one off (Still)
    - The board are worth their fee increase (justified by the total Shareholder return still the last AGM....hmmm no that's still negative)

    Just of note, did anyone else notice how Paul Byrnes was paid almost $400k additional to his director fees for his consulting services? The shareholders are certainly getting there $75k worth of value with his board fees?
    Jeez ...$400k is a lot of consultancy ...wonder what he did to earn that

    Equivalent to 0.5 cents per share (I think) ...hope his efforts were eps accretive

    Almost as much as the CEO got paid
    Last edited by winner69; Yesterday at 08:25 PM.
    “In a roaring bull market, knowledge is superfluous and experience is a handicap.”

    –Benjamin Graham”

  2. #5597
    Legend
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    Quote Originally Posted by winner69 View Post
    Snoops me old mate.

    Read that bit about polls again ...voting WILL be done by poll... hence no need for shareholders to demand a poll

    4. Inserting a requirement that voting at meetings of shareholders will be conducted by poll and deleting clauses which addressed shareholders rights to demand polls.
    I read it differently Winner. My interpretation of that clause change is that shareholders will be specifically banned from putting resolutions up at the AGM to be voted on.

    SNOOPY
    To be free or not to be free. That is the cash-flow question....

  3. #5598
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    Quote Originally Posted by winner69 View Post
    Jeez ...$400k is a lot of consultancy ...wonder what he did to earn that

    Almost as much as the CEO got paid
    Paul Byrnes is a clever guy who has learned the Turners modus operandi well.

    Maintain seat on board (Ticket clipped). Use that position to recommend the most wonderful consultant (himself) to drive future strategies (Ticket Clipped). And what better place to discuss these forward thinking strategies than at the new Paul Byrnes owned restaurant (Ticket Clipped).

    SNOOPY
    Last edited by Snoopy; Yesterday at 08:27 PM.
    To be free or not to be free. That is the cash-flow question....

  4. #5599
    percy
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    Quote Originally Posted by Snoopy View Post
    Paul Byrnes is a clever guy who has learned the Turners modus operandi well.

    Maintain seat on board (Ticket clipped). Use that position to recommend the most wonderful consultant (himself) to drive future strategies (Ticket Clipped). And what better place to discuss these forward thinking strategies than at the new Paul Byrnes owned restaurant (Ticket Clipped).

    SNOOPY
    Yes Hugh Green picked him years ago.
    Right man then,right man today.
    AIR brought in outside consults at a huge cost.
    TRA brought in Paul Byrnes.Sensible.Huge savings.
    Now were look forward to benefitting from his consultancy.
    Last edited by percy; Yesterday at 08:36 PM.

  5. #5600
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    Quote Originally Posted by Snoopy View Post
    Paul Byrnes is a clever guy who has learned the Turners modus operandi well.

    Maintain seat on board (Ticket clipped). Use that position to recommend the most wonderful consultant (himself) to drive future strategies (Ticket Clipped). And what better place to discuss these forward thinking strategies than at the new Paul Byrnes owned restaurant (Ticket Clipped).

    SNOOPY
    ......and all done at arms length
    “In a roaring bull market, knowledge is superfluous and experience is a handicap.”

    –Benjamin Graham”

  6. #5601
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    Quote Originally Posted by Snoopy View Post
    I read it differently Winner. My interpretation of that clause change is that shareholders will be specifically banned from putting resolutions up at the AGM to be voted on.

    SNOOPY

    You may be correct ...I don’t really know. Need to see the full constitution y

    But if you are right well it sounds rather (what’s the word I need) ...can’t silence shareholders can we.
    “In a roaring bull market, knowledge is superfluous and experience is a handicap.”

    –Benjamin Graham”

  7. #5602
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    Quote Originally Posted by Beagle View Post
    Agree 100% mate. I am not planning on attending. Got myself all wound up and chomping on the lead for a full barking session last year and he wasn't there !
    Can't be bothered this year...timid shareholders will vote him to stay on.
    Not going this year either.
    Went last year.
    Found Byrnes bordering on confrontational and definitely defensive.
    Baker, the Chairman, was listening in with full audio and the ability to speak but never announced he was there listening and could speak.
    Creepy, deceptive and unprofessional.
    Went to road show last year also. Share price was all down hill from there.
    No longer a shareholder.
    NUF said.
    Hope it does well but have put my investment elsewhere.

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