Welcome to Week 7.
On Friday morning I mentioned that would respond formally today to Mr Biddle's appointment as Chair of TNG. I noted that there are various legal issues involved, that are regrettably significant.
By early afternoon many Shareholders at TNG had reached out with concerns regarding the potential legal challenge of Resolution 5 stated in the company's ASX announcement. Any such challenge will affect the fundamental rights of Shareholders to propose resolutions and for these resolutions to be voted on at a General Meeting.
These concerns continued across the weekend, with similar views being widely expressed in online forums, and privately by Shareholders, both small and large, both local and overseas.
To address the concerns I hosted an Ask Me Anything session from 4pm - 5:15pm on Friday. This was followed by a pre-scheduled catchup in Sydney. My thanks goes to all those who attended, including for their discretion.
The replay to the AMA session has already been watched several hundred times. It is included below, for convenience.
You will see that I address the regrettably significant legal issues early on, and few times over the course of the hour. However most of the focus is on the substance of Mr Biddle's appointment. I emphasise that it does not address the stated concerns that the Change campaign has been built upon, and that it is a further example of the crisis of governance at TNG.
Importantly, I took the opportunity to update everyone on the exciting plans the Change team will implement following the change of control. We are fully prepared. And we are looking forward to the first chapter of the new era, that will Reset, Review and Renew the company into year end.
On the legal matters, I have decided to provide Mr Biddle with an opportunity to correct the record publicly. It is important that he does so.
This will follow as an Open Letter to Mr Biddle, to be published shortly.
Proposed Chair of TNG Limited