TNG Updates

TNG Change of Management | Update 38

Good morning everyone,

Welcome to the final week of the campaign to Change management at TNG.

A few brief points to start.

First, I hosted a further Ask Me Anything (AMA) session on Friday afternoon. The replay is below.

Second, in the AMA I addressed some Frequently Asked Questions on the key dates ahead. Specifically:
  1. This Wednesday, 14 September is the final trading day for standard transactions in terms of shares that will be recognised on the Date of Record, being Sunday 18 September.
  2. Proxies close 48 hours before the meeting, which is being held on Tuesday 20 September, 4pm WST. So, the cut-off for electronic voting is 4pm WST on Sunday 18 September, that being 6pm AEST. 

Third, in the AMA I highlighted my preference for a harmonious resolution in the week ahead where Mr Biddle, as Chair, facilitates an orderly transition to the Change team. It is over to Mr Biddle to decide. I am willing and able to facilitate this, should he choose to do so. This would be in the best interests of the company.
Fourth, in the AMA I also highlighted that in the prior 249D motion in 2018 there were some local Shareholders that voted late on. I certainly encourage everyone to vote and to be part of the Change campaign, as we make corporate history in Australia. I have added a few Chat with Grantsessions on our website for this afternoon and Wednesday for those interested. And our website has a How to Vote guide.

Fifth, I have also recently been in touch with some locals that sold out of TNG in recent years due to their frustrations with current management, and at lower levels than the current share price. I appreciate the decision to reengage is a difficult one. I am happy to have a Chat in these circumstances too.

Finally, as I said in the AMA, there will inevitably be some anxiety for highly engaged Shareholders as the General Meeting approaches. I would ask everyone to stay calm, as I am. I do not know what management has planned in the week ahead. My own focus has not changed: it is to achieve the Change that is fundamentally required at the company.

Change is very close now. An exciting new era awaits us all.

Proposed Chair of TNG Limited