NWF - NZ Windfarms

[Jantar]

I only need it to get to 24 cents to break even...........

I'm thinking of selling half my holding. Then the other half will have cost me $0.00

[Crackity]

I only need it to get to 24 cents to break even...........

Agm next week Grimy - make your vote count and who knows

[Grimy]

Voted online earlier in the week.

[Crackity]

Voted online earlier in the week.

Nice work Grimy

I note the share price is up to 11.5 cents on reasonable volume.

Hmmm, interesting

[Jantar]

https://www.nzx.com/companies/NWF/announcements/273932
I hope that means two new directors are in. The writing on the wall was too great for the two retiring directors and it appears they didn't want to wait for the vote.

Hoping this is congratulations to the two new directors.

[Crackity]

Results of AGM voting -

No Directors were re-elected or elected so the Board is now 3 members.


NZ Windfarms Limited (“NWF”) advises the results of resolutions from the Shareholders AnnualMeeting held in Auckland on Tuesday 24 November 2015.
As previously advised, Vicki Buck and Michael Stiassny advised that they would retire as directors ofthe Company at the conclusion of the Annual Meeting and not seek re-election. ConsequentlyResolutions 2 and 3 in the Notice of Meeting were not put to the meeting.
The results of the polls held on the remaining resolutions were:

Resolution		For [IMG]file:///page1image9064[/IMG]	[IMG]file:///page1image9520[/IMG] Against	[IMG]file:///page1image11136[/IMG] [IMG]file:///page1image11560[/IMG] % For	Result
1	Remuneration of Auditor That the Board be authorised to fix theauditor's fees and expenses for thefinancial year ending 30 June 2016.	199,580,669	97,900	99.95	Carried
4	Election of Director That Heiko Mueller-Cajar be elected as aDirector.	[IMG]file:///page1image24200[/IMG] 17,178,835	144,665,274	10.61	NotCarried
5	Election of Director That Samuel Viskovic be elected as aDirector.	47,242,905 [IMG]file:///page1image33688[/IMG]	152,719,069	23.63	NotCarried
6	Shareholder Resolution That the Board prioritise theidentification of ongoing cost savings toenable the payment of a maiden dividendin 2016.	125,698,304	71,055,738	63.89	Carried

Will be interesting to see what happens next

[Harvey Specter]

Given the low vote for the new directors, it would have been interesting to see if Stiassney and Buck would have got through. Only 3 will be good to cut costs but assume they will now look for someone new to fill the void.

[Jantar]

Resolution 6 being carried is effectively a vote of no confidence in the entire current board. It is merely stating what should be any board's duty of care, yet the current board recommended that it not be carried.

[Crackity]

Resolution 6 being carried is effectively a vote of no confidence in the entire current board. It is merely stating what should be any board's duty of care, yet the current board recommended that it not be carried.

I think you are correct Jantar.

This play is only up to the end of Act 2 - Act 3 still to come....

[Joshuatree]

So how will this next act play out in what time frame and who can activate it, major shareholders?Thanks.