AVZ Discussion 2022

[TheCount]

First strike I see as a win for retail holders. Fancy asking for more money just because they have to travel TO WHERE THE ONLY COMPANY ASSET EXISTS. FFS gents - you knew the mine isn't in WA didn't you?

Second strike and the BOD "may" be voted out:-

A company will receive its second strike if a resolution to adopt the remuneration report for the following year receives another "no" vote of 25% or more of the votes cast. If this occurs, a resolution that a special spill meeting be held must be proposed at the AGM where the second strike is received (section 249L(2), Corporations Act).

A spill meeting must be held within 90 days if that spill resolution is passed by an ordinary resolution (more than 50% of eligible votes cast) (section 250V, Corporations Act).

All directors will be required to stand for re-election and will cease to hold office immediately before the end of the spill meeting, unless re-elected (section 250V(1), Corporations Act). This does not apply to the managing director, who is permitted to hold office indefinitely without re-election (section 250W, Corporations Act) or any director appointed after the most recent remuneration report was approved by the board.

So, the chances of the toads having another crack are infinitesimal, but it does indicate to the BOD they can't just issue bonus' ad hoc..
TC.

 

[Bray]

They’ve defamed themselves with their attempt, likely they’ll be working at godfreys vacuums soon. Hope career suicide was worth it

Onwards and up for the bod, next battle.

 

[John25]

Celebrations may be had on TSE today ..where Yaseen is racing the clock to bring up the quickest 100(posts) on the forum …hope he/she/it doesnt choke in the nervous 90’s
View attachment 50390

Ol mate Yaseen is 110 Not Out time to flush/ignore

 

[LzrTr8dr]

Looks like the clown show have lost the will to continue updating their website after the vote yesterday. They were fairly on the ball beforehand.

 

[wombat74]

I wonder what Tommy Turd Burger is cooking up ? A negative twist on the way no doubt .

 

[Cumquat Cap]

Wonder how much of Zijin's money they managed to blow through, i'm guessing circa 500K

 

[BEISHA]

totally agree with the Zijin 15%, but as said with the election coming up I thought I was being positive by saying 3months minimum, do you honestly expect it quicker than that, or would you say there's more probability on that estimation?


maybe you missed my reply to Jag, but yes I've been pro AVZ for years, on HC, X etc, and got along with almost all holders in the past....but apparently its "timing" that I deserve to be attacked for even though I've openly stated Im pro board, anti MMGA, anti Chinese takeover dogs, etc etc. Its honeslty like many in here have completely lost their marbles

Well apparently MOU discussions were well advanced prior to the MMGA maggots getting involved, so now that they are out of the picture, AVZ can resume discussions with strength and conclude a deal

AVZ BOD have mentioned many times that they want to negotiate favourable terms and get the ball rolling with Manono ASAP, so how long, who knows, i dont have a crystal ball, but if i was FT and with elections looming , i would want to strike a deal and provide the locals with some hope of better times ahead and improve my chances of getting re elected , cause up to this stage, he has achieved fuck all and performed worse than Kabila.

imo

 

[Thaz]

Talk about Defamation:

 

[geo_au]

First strike I see as a win for retail holders. Fancy asking for more money just because they have to travel TO WHERE THE ONLY COMPANY ASSET EXISTS. FFS gents - you knew the mine isn't in WA didn't you?

Second strike and the BOD "may" be voted out:-

A company will receive its second strike if a resolution to adopt the remuneration report for the following year receives another "no" vote of 25% or more of the votes cast. If this occurs, a resolution that a special spill meeting be held must be proposed at the AGM where the second strike is received (section 249L(2), Corporations Act).

A spill meeting must be held within 90 days if that spill resolution is passed by an ordinary resolution (more than 50% of eligible votes cast) (section 250V, Corporations Act).

All directors will be required to stand for re-election and will cease to hold office immediately before the end of the spill meeting, unless re-elected (section 250V(1), Corporations Act). This does not apply to the managing director, who is permitted to hold office indefinitely without re-election (section 250W, Corporations Act) or any director appointed after the most recent remuneration report was approved by the board.

So, the chances of the toads having another crack are infinitesimal, but it does indicate to the BOD they can't just issue bonus' ad hoc..
TC.

Nothing unusual about the BoD asking for bonuses as it applies to many other Aussie BoD's working offshore and is due to the expertise needed in dealing with foreign government's to advance their businesses.

In my opinion they deserve to be well remunerated for achieving their goals that is why I voted for that resolution.

 

[Thaz]

Nothing unusual about the BoD asking for bonuses as it applies to many other Aussie BoD's working offshore and is due to the expertise needed in dealing with foreign government's to advance their businesses.

In my opinion they deserve to be well remunerated for achieving their goals that is why I voted for that resolution.

Working offshore, when the Company's only asset is in DRC is more than expected imo - especially if you are in senior management/executive team.

That would and should form part of their more than adequate salary.

The bonuses should be tired to specific KPI crtieria. $1M in bonuses for spending majority of the time outside of Australia - is not, imo, fair and reasonable to the shareholders of the Company. Especially in a time where cost-cutting measures are important.

 

[Jazz]

I wonder what Tommy Turd Burger is cooking up ? A negative twist on the way no doubt .

Fairly certain it will be a hard hitting piece about how the cookies at the AGM were hard as rocks, which could lead to the delisting of the company.

 

[Samus]

Working offshore, when the Company's only asset is in DRC is more than expected imo - especially if you are in senior management/executive team.

That would and should form part of their more than adequate salary.

The bonuses should be tired to specific KPI crtieria. $1M in bonuses for spending majority of the time outside of Australia - is not, imo, fair and reasonable to the shareholders of the Company. Especially in a time where cost-cutting measures are important.

It appears enough of us voted against resolution 1 to fire off a warning shot against the BOD. Probably helped along by the MMAGOTS but hopefully it keeps them on their toes because if in 12 months time we're still in this situation then I doubt they'll be enjoying the current level of support.
MMGA needed to be ousted but the BOD can't continue taking the piss either.

 

[Roon]

Nothing unusual about the BoD asking for bonuses as it applies to many other Aussie BoD's working offshore and is due to the expertise needed in dealing with foreign government's to advance their businesses.

In my opinion they deserve to be well remunerated for achieving their goals that is why I voted for that resolution.

"In my opinion they deserve to be well remunerated for achieving their goals that is why I voted for that resolution."

Which of their goals do you believe they have achieved Geo? It's a shambles.

That's largely the fault of our opponents, but nonetheless it's difficult to argue that their recent renumeration is in any way results-driven. They should certainly be applauded for the hard work they have done to resist the strategies of our enemies, but we haven't actually achieved much during this renumeration period beyond staving off outright disaster.

 

[Roon]

Fairly certain it will be a hard hitting piece about how the cookies at the AGM were hard as rocks, which could lead to the delisting of the company.

Regarding the de-listing by the way, NF said afterwards that the company will not be seeking the end of the suspension until everything regarding title etc. is fully clarified. When someone questioned whether this meant there may be a de-listing, NF stated that if we are de-listed by the ASX that we will essentially act for a time as a 'private company's until its possible to re-list with the ASX, and if that isn't possible then there are always other exchanges to list on.

I'm not commenting on this claim, just passing on what I heard stated.

 

[Cumquat Cap]

That' is very much NOT what I am looking for, that would be a fkn disaster in my opinion.

Time for management to yield results/turn the pressure cooker up (they seem awfully relaxed all the time while i've gone grey in the past 2 years).

 

[Winenut]

Just wanted to add my sincere thanks to those on the forum who attended the AGM yesterday and have subsequently shared the experience with us today

We are privileged here to have some incredibly genuine, hard-working and concerned shareholders who understand the community spirit that keeps us bound together through these difficult and challenging times and who are willing to go the extra mile for the greater good

I think I would have lost my mind some time ago without the opportunity to share the AVZ experience with others here on TSE and for that I am eternally grateful

My take on it all at the moment is that we have had a decent win over the MMGA goons and sent a strong message to them that they and their Chinese masters can fuck right off

Nevertheless it's only one more battle that we have won in a larger war that looks to be far from over

Still everyone should take a moment to reflect on all the hard work by contributors on social media that massively helped nullify and ultimately defeat the corrupt attempts to overtake the Board and take a small amount of time to acknowledge and enjoy the victory

With regard to the remuneration report I understand why many didn't support the resolution although I did simply to try and add some protection to the current board on the remuneration 2 strike spill

We may have to deal with that next year and it may be an opportunity for the Goon Squad to have another crack but we will have to cross that bridge if or when we come to it

I will say though it has sent a message to the Board that shareholders want to see tangible results and outcomes and KPI's achieved going forward before bonuses are considered or paid out

I am certain the current Board will take careful note of that strong message that was delivered via the AGM

So after a brief pause to appreciate defeating MMGA and Fat Slob Holdings it's going to be back to work supporting AVZ and the Board in their efforts to progress the MOU, secure the ML and get Manono up and running for the benefit of all stakeholders, shareholders, the good people of Manono and the broader population of the DRC

Let's go AVZ!!

#FuckZijin
#FuckMMGA
#FuckHuljich
#FuckCarrick
#FuckLudbrook
#FuckCorruption
#FuckCong
#FuckTommyRichardson (twice)
#FuckTheAFR


#FuckYEAH!

 

[LOCKY82]

Der Geist is at it again! Who is this guy!?!?

 

[SilentOne]

Working offshore, when the Company's only asset is in DRC is more than expected imo - especially if you are in senior management/executive team.

That would and should form part of their more than adequate salary.

The bonuses should be tired to specific KPI crtieria. $1M in bonuses for spending majority of the time outside of Australia - is not, imo, fair and reasonable to the shareholders of the Company. Especially in a time where cost-cutting measures are important.

Hi Thaz,

I hope this message finds you well. I wanted to take a moment to express my strong support for the Board of Directors (BOD) and the exceptional work they've been doing.

In my view, their performance has far exceeded the expectations typical in the corporate world. The challenges they've faced, especially in dealing with corrupt parties in the DRC, have showcased their commitment to upholding ethical standards and navigating complex situations with integrity.

I believe the BOD has gone above and beyond what is normally anticipated, and their strategic approach to positioning the right individuals in key roles within AVZ is crucial for the best outcomes for us, the shareholders.

I can't help but commend their efforts, especially considering the challenging circumstances. Their dedication merits every cent they receive, including bonuses. It's important to recognize that the complexities of their roles go beyond what most people would willingly undertake.

At the end of the day, I firmly believe that the compensation they receive is a fair reflection of the value they bring to the company. We truly get what we pay for, and in this case, the Board's performance speaks for itself.

Regards,


Silent One

 

[Retrobyte]

Just wanted to add my sincere thanks to those on the forum who attended the AGM yesterday and have subsequently shared the experience with us today

We are privileged here to have some incredibly genuine, hard-working and concerned shareholders who understand the community spirit that keeps us bound together through these difficult and challenging times and who are willing to go the extra mile for the greater good

Still everyone should take a moment to reflect on all the hard work by contributors on social media that massively helped nullify and ultimately defeat the corrupt attempts to overtake the Board and take a small amount of time to acknowledge and enjoy the victory

Well said, Wino.

The other thing to acknowledge is the number of shareholders who showed their support for the BOD by nominating for director positions - this is a response that clearly demonstrated that holders were not just going to sit back and let MMGA stroll in. It was a brave move for shareholder nominees to put their names up for public scrutiny.

And shareholders of all shapes and sizes stepped up and made their views known - an additional 1 billion votes were cast this year (c.2.4Bn) compared to last year (c.1.4Bn). Well done to everyone who voted.

 

[antimatter]

It's only 3pm in Melbourne and I have already started with the first glass of red. So, whatever I write is may be under influence.

With the heading of today's announcement "Strong Vote of Confidence for AVZ’s Board of Directors...", the BoD better be not sleeping on their laurels and fucking around the next 6-12 months without delivering noticeable progress to the current situation, and continuing to high-five each other and giving each other bonuses for the job well done. The reality is that facing with two evils being either the BoD or MMGA, shareholders went with the lesser evil yesterday.

However, the BoD are now living under borrowed time and within the next 6 months, they better treat the situation with utmost urgency, especially when dealing with the DRC government. Play time is over with the DRC and no more being Mr. Nice Guy please AVZ BoD. Until the DRC government shows the first concrete evidence of being serious about advancing Manono with AVZ, it should be all out war with the DRC via the ICSID. Anything else will be just a waste of time as we have seen the last 18 months. If the BoD allow the DRC Government's corrupt actors, Zijin, and the CCP to drag this on another 12 months without substantial progress, then all bets are off!