Gubitz running again as a DirectorI thought his selling most of his shares at 37 cents a few months ago signalled he did not intend to stand for re-election as a director. I was wrong.
Voting for directors is FOR or WITHHOLD. However, any director who gets more "withhold" votes than "for" votes is expected to tender his/her resignation immediately. The rest of the Board will consider whether to accept the resignation. They say they will take into account the reasons shareholders stated about why they voted against the director. So I guess we have to stand up at the AGM and explain it to them, or they may ignore our vote.
This process is painful and disrepectful to the individuals involved. Everyone standing for election is about to get a public performance appraisal at the AGM. Apparently our e-mails to the company were not clear enough.