Annual General and Special votingI start by declaring that I am long on Poynt.
We need some clarification regarding timesPoynt launch into India. On page 5 of 39 (fourth quarter 2010 highlights) it was stated that it the anticipated launch was Q2 2011. Later in that same report (page 38 of 39) the launch date was revised to Q3 2011. It is clear that that launch is not going to proceed in Q3. This is where we need some clarification.
The second issue I would like to present to this board is regarding the vote (by internet or 800#). I placed my vote and there were four issues presented for voting (I shredded my form after voting so I am attempting to recall the exact questions).
I voted for the Auditors
I voted against directors setting new compensation measures including the issue of stock options.
I am not say that this is the case but we do not want the board to start overcompensating themselves. Generally speaking, it is very easy to become piglike and to start feeding from the trough. This is only a general comment and is not pointed towards the Poynt board and MT.
That is my two cents worth this morning. Remember to vote according to your conscience.