4 questions lodged at 2026 Codeifai (CDE) hybrid AGM
July 24, 2026
Below is the text of the 4 written questions submitted at the belated 21 minute Codeifai (CDE) AGM held as a virtual meeting via Zoom on July 24, 2026. Registered on July 12 when was annoyed to be asked how many shares I own. It's 55,556. Why does this matter? See notice of meeting. Market cap $8.6m on AGM day. Accumulated losses of $88.3m and net assets of $2.7m. Whopping 25 resolutions in 2025 with biggest protest 16% against share consolidation. Traded in 2025 but didn't attend. Asked 3 questions at December 2025 EGM where they were the most security paranoid company I've ever engaged with. They didn't bother lodging any formal addresses with the ASX so the proxies were not disclosed early. Biggest protest was 5.1% against extra 10% placement capacity and they failed to deliver headcount data despite suggesting they would during the meeting. I was the only shareholder who attended the AGM and voted in the Zoom poll.
Q1. Why wasn't the recent $770,000 placement followed by an SPP so that our nearly 3,000 retail shareholders could participate on the same terms as the "sophisticated" placement recipients?
Answer: The chair... Watch video of exchange via Twitter.
Q2. Resolution 4 question: "There have been many substantial protest votes against resolutions like this at public companies over the years and multiple defeats. It is not good practice to allow a board to selectively place up to 25% of the company's shares to anyone they like over a 12 month period, diluting the existing shareholders without compensation for their lost property rights. What is our history of doing selective placements without an SPP, why are we asking for this authority and has there been a substantial protest vote against this resolution? Will you undertake to not ask for this authority again at next year's AGM?"
Answer: The chair... Watch video of exchange via Twitter.
Q3. General business: "Why didn't the board propose a share consolidation for consideration at today's AGM given that our shares are trading below 1c and we have a ridiculous amount of shares on issue relative to the market cap. Will you put up a share consolidation resolution at the next AGM because it is frankly ridiculous that chair/founder John Houston owns more than 1 billion shares."
this $505 investment was already down to $410 by the time of the EGM with the only buyers on EGM day offering 0.09c with zero trades.
Answer: The chair... Watch video of exchange via Twitter.
Q4. General business question: "How many of our 2,905 shareholders voted by proxy before today's AGM and will you disclose the headcount data in the poll results so that we see the participation rate of retail shareholders as well as their voting sentiment on all resolutions. Many other companies now do this and our share registry provider has the data."
Answer: I added the following into the Zoom chat before lodging this question: "Last of 4 questions. Please read them all in full and then answer them. I don't wish to participate orally." When it looked none of the 4 questions were going to be read out because they wanted me to present orally, I then added this message: "Please read my 4 questions out and answer them.". Watch video of exchange via Twitter.
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