Response to Email re voting at EGM

GOS,
Sorry about the lack of a thread ref GM etc., had intended to set one up but that idea got lost in other stuff overnight and this morning.
Thanks for your comments. Some common themes that we are seeing there.
Halifax, along with Lloyds (on the same / similar platform) do seem to be a problem in being late with the voting papers. However this was flagged up in our pre-GM email and we urged members to be proactive and simply call their brokers to vote rather than hang about waiting.
Seems a lot of people just don't want reminding about Range and the shocking investment decisions we have made in the past, and perhaps RIG just exacerbates that reminder. If so, serious question to everybody, what is RIG's future role and who wants to be in it?
I disagree on the absence of impact of votes - nevertheless the potential was there. However, turnout this time was similar, or marginally less, than the AGM. Every vote cast features in the reported proxy numbers (which the BoD will note), even if it may not affect the outcome. If people take the view that their vote didn't matter, then they only have themselves to blame if they don't get the outcome or appearance of shareholder sentiment they wanted or expected. By not voting, it can be argued that it's just one in the eye for those that have bothered, and to RIG for trying to put some effort into the process. Having been trying to encourage people to vote even pre-RIG days (on the LSE board) and it being one reason I volunteered as a RIG rep, I frankly feel personally let down by some of those shareholders who seem to want everything done for them whilst not actually contributing anything themselves, yet are quite happy to moan like buggery on the internet boards. It is particularly disappointing that for all the noise on the boards about a protest vote - albeit muted compared to the AGM - barely 50m voted against the options, only 5m against Core, and only 14m took the arguably soft protest / official dunno route of abstaining.
As to RIG becoming an activist group, there may be that potential in future if that is the clear will of the membership, if the current management disappoints. At present there are only a few exercising such suggestions, plus some from outside RIG. But at the end of the day, if those who are most militant don't even vote which is the best weapon we have, where does thar leave us?
As regards legal action against previous board members, although I might be inclined to explore the idea personally, you'd need to motivate people pretty well to follow it through, and against a backdrop of apathy, what's your chances?
Views above are mine alone and not necessarily shared by my fellow reps.
Cheers,
Phil

gos

i agree with your most of your post AS I feel RIG HAS Sqwonderd any strenth thay had by inaction and has let down 20% sorry now 10% BUT i still suport RIG but AT I THINK they lost thay way and i also MISS soto thourths

Phil
Sorry if I appear to be having a go at you guys I do appreciate what you do BUT where I took real issue was when the board was sacked at the general meeting and RIG stud back that’s where I become disillusion with RIG and the hole set up here and what’s gone since I ask myself dues this none elected board have general shareholders interest at hart OR their own? I’m not sure but I do intend to reduce my holding WHEN I get the chance.