Hi everyone, this is Greg. Steve is preparing for his appearance in Wollongong tonight, so I thought I’d get the ball rolling now the current board has laid its cards on the table.
Proxy forms have been mailed to all RHG shareholders and it’s time to get your vote in. Below is an image of our recommendation of how to vote on the form the company has sent. If you wish to support us, please nominate Mr Steven Johnson as your proxy AND vote as indicated below (you can use the zoom option at the base of the image to get a clearer view).
As always, please feel free to ask any questions or make comments.
RHG how to vote
Print This Post
{ 18 comments… read them below or add one }
Sir yes sir!
I find this entire experience quite interesting, i think we are getting a slightly distorted view of things since we are ‘in the action’. Or at least compared to the large majority, so i’m not sure how effective this will all be.
But i support your actions, and you have my vote.
[Reply]
I hope this might be the last action you need to take to get elected – you have my vote!
[Reply]
Just faxed in my form for around 60,000 shares, voted for you guys, fingers crossed it works out!
[Reply]
The current board oversaw the share price rise from 13 cents to 65cents this year. Isn’t that great!!! They forgot to mention they also oversaw the share price go from $2.50 to 4 cents. Again great!!!!! They “managed” 4 meetings last year and paid themselves $73K. David Coe attended 2 of those meetings, Great. The profit was $120m and not one cent for the “owners”.
This is not “showtime” it is SHOWDOWN time.
Greg, we have 75,000 shares and we have them supporting you and Steve.
Best of luck.
[Reply]
Michael Reply:
October 15th, 2009 at 9:22 am
Precisely – overseeing it go from over $2 to around $.55 when the economy was going strong is pretty poor. To see it rise lately upon the threat of action shows some interest. I also have not yet received my voting form – hope it comes shortly.
[Reply]
Proxy completed and will be sent first thing tomorrow. Best of luck
[Reply]
Good luck guys – my proxy is in the mail. Wish I could be at the meeting in November just to see how they justify Coe’s retention. The annual report was an entertaining read – full of detail about what a great job everyone is doing and how experienced they all are.
[Reply]
Voted my 63,000 shares as outlined. If this action affects all shares price so positively then you should consider activism more often!
All the best on the day.
[Reply]
posted my proxy for 37,000 shares.
[Reply]
I voted earlier today before reading your suggested proxy form. I differed by voting against the remuneration. Boards need to know, that shareholders are sick of their greed. I am voting against all inflated remuneration.
What are you going to do with your directors fees if you succeed? Make sure you do not miss any meetings (or return that proportion of your remuneration from the company in good will?
You have my 20000 but I hope you have not missed understanding this company as you did Timbercorp.
I watch on with sceptical interest.
Michael
[Reply]
Steve/Greg,
You might want to repost that sample form again, there’s a bit where “This section must be completed” at the bottom. ie. Sign, contact name, number, date.
You won’t believe how many people can f&^% this part up. Wouldn’t want to have votes in your favour set aside because of some common sense thing.
[Reply]
My votes are in, good luck guys.
[Reply]
My proxy is in the mail for all the shares I own. Regardless of how you guys end up, thank you for taking the time and effort to represent us and sending a message to these “feudal” boards who feel they can treat their shareholders with indifference. A lot of people outside of RHG and its shareholders are watching this exercise with great interest. Other such boards should be looking over their shoulders from now on. Notwithstanding the inertia from the ASX and ASIC, the status quo is about to change. Good luck and thanks again.
[Reply]
What do you make of Note 5, which states that “members who forward their proxy forms by fax are required to make available the original executed form of the proxy for production, if called upon at the meeting to do so.”? Does this mean if we appoint Steve as proxy we also need to post in the form so he can produce the original at the meeting or risk the proxy being ruled invalid?
[Reply]
Lachlan Reply:
October 18th, 2009 at 9:47 pm
I fear the same. With this board and their legal team looking for any excuse to quash our case, I wouldn’t give them any bait. First it’s the requisition, then Greg’s resume as well as the crafty spin about the requisitionists owning “fractionally” above 5%, I bet the next move is to throw out the faxed proxies.
I ensured mine dotted every i and crossed every t before sealing the envelope. Also ensure that it’s written Steven with an “n” at the end. They might not know who Steve Johnson is…
It’s reply paid, so there’s no reason not to post it.
[Reply]
Just Clarifying, Why do we need to appoint a proxy for our vote in section 1 when indicate our vote in section 2?
(I almost sent it back without Steve’s name in section 1, others may have done the same and I hope that wouldn’t lead to invalid votes)
[Reply]
You have my 110,000 votes. However, why are you recommending voting for the remuneration report?
For the last financial year non-executive directors (except the chairman) received from $20,000 to $40,000 per meeting attended. Now I know that there is more to attending a meeting than turning up on the day, but it does seem to me that the schedule of meetings was not particularly onerous and an awful lot of work is needed to justify that amount per meeting. Remuneration should be for improvement in the long-term advantage of the company. getting the share price up to 71c is good until you take into account that it started at $2.50. In similar vein, what has the chairman done to warrant a 9% increase in remuneration? And surely long-term benefits to the CEO should be geared to long-term benefit to the company? Why is he given 146362 options for presiding over a share price moving from $2.50 to 71c?
[Reply]
Joe Reply:
October 16th, 2009 at 2:04 pm
Because they want the same as the people they’re launching this crusade at, i would have thought that was obvious
[Reply]
In the past, we’ve rarely sent in votes via proxies for AGMs, because the institutions, the insiders and the ‘big players’ determine the outcomes. However, as some boards – like RHG – have treated retail investors with such contempt, we’ve looked for an opportunity to let those in the corporate world know that we will not be trampled, that we will not be ignored and that we will stand up to be counted given that chance!
Steve & Greg, you now have the 180,500 votes we hold between us.
[Reply]
Thanks for making the job quick and easy, I loved the way you scanned the form. I wish you all the best.
[Reply]
for what it’s worth, you have my 4000!
[Reply]