What do shareholders want?

We have spoken to several shareholders over the last few years and even today we are still surprised by the passion the mention of the words "Pyne Gould" and "Kerr" evokes.  However, after people calmed down we always ask them the following two questions. We thought it is time to publish the typical replies.

What do you want from PGC?

1. Decent return on my investment.
2. "Kerr must stop trying to steal the company" (Ouch! We blog it like we hear it)
3. Truly independent directors.
4. Stop throwing PGC under the bus for Heartland, PGW and other interests of Kerr and his fellow directors (Bryan Mogridge and Bruce Irvine)
5. Take PGC back to its roots. It is a national asset and the founders must be turning in their graves when they see what their own family is doing to the company. (This is generally a reference to George Kerr, which is a  is a distant relation to the founders and George Gould who by some reports recently abandoned ship, because he got fed up with Kerr's behavior).

What is the solution?

1. Stick to the original plan of building a wealth management business and return Heartland & PGW shares and cash  to shareholders.
2. Get a new board (Reese Hart's name is the only one that consistently comes up when we press for specific names and only recently).

Cheerio,
jA