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2016 AGM – Voting Recommendations

06.01.16 | Comment?

SayNoCPO have been asked to publicise it’s voting recommendations for the upcoming AGM.

Shareholders who may require us to act as proxy in any way may enter the name ‘David Spring’ in the appropriate box on the voting form. We would strongly urge members not to leave the proxy box empty as this may result in Chairman Steven Frankham casting your vote as he chooses for any other business.

SNCPO are in favour of all resolutions, with the usual exception of motions numbered ;

2,4,7,8.

Reasoning ;
2 & 4  –  Directors Frankham and Granvill have long been perceived by many shareholders not to act in the best interests of the company, having previously voted to dissolve CPO in 2011, and publicly refused to rule out doing so again. Granvill was also part of the discredited board which allowed an unauthorised oversale of shares after the declaration of an offer, thereby facilitating the sale of at least 2,000 shares to a concert party of individuals linked directly to CFC management and Fordstam (CFC holding company). Frankham is widely perceived to have persistently paid mere lip service to eradicating said concert party. He also refuses to instruct administrators to reveal if said concert party are still regularly voting collectively to sway every decision taken by shareholders, as should be his fiducial duty.

7 & 8  -  Company auditors Hannaways are discredited in the eyes of many shareholders due to their silence during/after the shares oversale debacle in 2011.

NB
SNCPO have severe concerns about resolution 11 – expansion of the board to a maximum of 8 directors, despite calling for expansion to 7 for several years. Given previous chicanery, such an immediate and large expansion could be used to heavily sway the balance of our board at this crucial time. SNCPO will therefore be seeking assurances at the AGM that no more than 2 directors will be selected by the board during the next 12 months, be totally independent of CFC management, and a better reflection of the ordinary shareholders base than currently.

A further full SNCPO statement on recent events will follow nearer the AGM…..

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