In June 2016,
I got a nomination for the Board in full compliance with the Company's
But, because of the procedure adopted, my name was not even put forward on the order of business for consideration.
But this year 2017, my name has been accepted. Please give me your vote.
I want shareholders
on the Board who have a stake in the Company. I have 60,369 shares.
If elected I will push for the following:-
1] Matching Directors interests with those of shareholders - The Board has presently 15 Directors. 7 of them have 2000 shares or less, and some of these have been on the Board for several years. I think that, with high debt but millions of Treasury shares, the Company should be paying half of each Director's €6000 annual fee, and half of the Chairman's €11,000 fee, in ordinary shares, issued at the average price of the last 10 trades. This would help focus Directors interests on those of all shareholders.
2] Better Communication - The Board, despite saying that their new website would keep shareholders informed, failed to inform us of either the sale of the Tower Hotel, or the Geneva Shopping Centre. I believe that this was deliberate, as there had been a call last year from some shareholders for a special dividend from the proceeds of either or both sales. I also think that the Company website does not give enough information with regard to shareprice. I believe it needs to give a "current Bid and Offer", not just a "last deal done at", to show shareholders the true demand at any one time.
3] A New Shareholder Rule - I think the Constitution restriction on potential new shareholders needs to be changed. We currently have lots of foreign domiciled, non-farmer and non FBD holders - from a Dietician in Zimbabwe, to the wife of a hotel builder in China, to a priest in Montana, USA. (I've seen the Register) I think that, as the Company Board also has a final veto, that any new shareholders having to be both an FBD user AND an IFA member is too restrictive.
This rule alone has severely damaged the shareprice, and will continue to do so, because of the number of shares from old people, deceased holders, and distressed sellers coming to market without new buyers.
I also think the 1% shareholding limit should be increased to 2%, to let the likes of Dairygold buy more shares.
4] As over 40% of our shareholders are women, I'd like to see women included at Board level.
I believe that I am a very suitable candidate for Board membership. I was Chairman of the East Donegal Co-operative Agricultural Society for 8 years prior to its successful winding up, where it returned 3 times their initial investment + dividends back to shareholders.
I am the current Northern Irish press secretary for MENSA (the high intelligence society).
Aged 58, I have just retired from full-time farming after 40 years, so I have the necessary time to give to the job.
In a personal capacity, I'm an investor who has been investing in Equity Stock Markets, Bonds, and other investment assets, since 1988. In that time I have grown my own portfolio by 8% compound per annum, and I have completed a course on Equity Investment at Queen's University, Belfast.
I know how companies should work.
I believe that, as a shareholder with a qualification in Communications (ATCL from Trinity Guildhall) that I could, as a Board member, argue for the Board to keep shareholders more informed. I'd also like the Company to reward its shareholders better, to open up to new shareholders, and in so doing try to reverse the share-price decline of the last 9 years, which has fallen from over €7 to the present 95c.
I want people to be interested in buying the Company shares, so that existing shareholders, especially older shareholders who may be looking for an exit, have a share price that reflects the true value of the Company.
voting for me. You can do it by filling out the voting form and returning
it in the "freepost" envelope the Company enclosed with
the AGM notice.
WITH YOUR VOTE, I CAN TRY TO MAKE A POSITIVE CHANGE TO THE COMPANY.
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