Niko Resources Ltd NKRSF

Excert from Canada Stockwatch

[Thailanddan]

Niko's shareholders, for their part, seemed anything but happy at the company's annual meeting two days ago. All six of the director nominees were elected, it is true, but four of them got just 58 per cent of the vote, while the other two could not crack 74 per cent. The least popular was Jake Brace, who was elected with 57.92 per cent of votes in favour. Mr. Brace initially came to Niko as a senior adviser in August, 2013. This raised some investors' eyebrows, given his history as the chief restructuring officer during the lengthy bankruptcy of United Airlines. In November, 2013, Mr. Brace became Niko's president, before leaving the company at the end of 2014. He returned this past July as a director. In the meantime, he had become the interim president and chief executive officer of Midstates Petroleum, a troubled producer in Oklahoma and Texas, in March, 2015. Midstates ended up filing for bankruptcy last April. It received court approval of its reorganization just this week. Interestingly enough, the judge gave the approval on Wednesday, the same day on which Mr. Brace was (reluctantly) re-elected to Niko's board.

Looks like the AGM was just to get the "Boys" back in those juicy paying job positions.