Consistent with my Update this morning, I was expecting TNG's management to make a last gasp announcement today. It is a measure of the overwhelming support that our Campaign has that the company has resorted to this.
Please be assured that my comments on the state of play are unchanged. Change is coming to TNG, and it is now imminent.
This morning's announcement does mean, however, that we are going to a meeting next Tuesday.
Mr Burton has still not received the message from Shareholders that his resignation is fundamentally required.
Mr Elkington has still not received the message from Shareholders that him having a job for life at our expense is not acceptable.
I also would like Shareholders to see just how strong the support for Change is. Additionally, the new Board will be able to write the terms of exit for all concerned, which is a relevant consideration.
Regarding Mr Biddle, his actions today, and since he arrived, have served only to illustrate the crisis of governance that is afflicting the company. I know, as well, that he has deeply alienated Shareholders, both small and large, local and offshore, especially with the implied threat that was made to voting rights, being the purported challenge to Resolution 5. His proposal today is obviously not in the best interests of the company: it is more disarray, more dysfunction. This can be seen already in the short term reaction of the share price.
Consistent with the entire Campaign that I have led, I remain committed to transparency and accountability, strong governance and alignment with Shareholders interests.
As such, I will host a final AMA at 4pm today, with the details below.
Highly engaged shareholders will recognise that our (intended) digital strategy for the company is already making ground, with our AMA from last Friday viewed over 1,500 times. So today's announcement is an excellent opportunity to bring more profile to the company, ahead of the Change of control on Tuesday.
See you then,
Proposed Chair of TNG Limited
Zoom AMA Details
When: Sep 16, 2022 04:00 PM Canberra, Melbourne, Sydney