5 questions lodged at 2026 Peako Ltd (PKO) virtual EGM
August 17, 2026
Below is the text of the 5 written questions submitted at the 20 minute Peako Ltd (PKO) 10am AEST EGM via Zoom (had to email out-sourced company secretary Justin Mouchacca to get the link) on August 17 2026 to approve 13 capital raising resolutions related to its recent acquisition of various gold tenements in Saudi Arabia. Bought 83,335 at 0.6c on August 6 and sold on August 14 at 0.7c to make a quick $73! See notice of meeting. Market cap $12.8m on EGM day. Latest balance sheet shows $48.5m in accumulated losses and just 950k of net assets. No formal addresses were lodged with the ASX and there were no protest votes. Was the only shareholder asking questions.
Q1. Resolution 3: "Why weren't our 364 retail shareholders offered an opportunity to participate in the $5m placement on the same terms as the big end of town investors? Will you undertake to offer your retail shareholder a share purchase plan before the upcoming November AGM."
Answer: The chair Gernot Abl provided absolutely no explanation and just point blank said no. Very disappointing. Didn't even pretend to care about retail dilution. Watch video of exchange via Twitter.
Q2. Resolution 4: "We'll have almost 3 billion ordinary shares on issue once all these approvals have gone through. This is ridiculous. Will you undertake to put up a share consolidation resolutions at the upcoming AGM so that our shares will no longer trade below 1c."
Answer: chair Gernot Abl was more open to a share consolidation than an SPP, saying they will consider putting up a share consolidation resolution at the November AGM. Watch video of exchange via Twitter.
Q3. Resolution 6: "Have there been any material proxy protest votes on any of today's resolutions, including the director incentive grants starting at resolution 6? Also, will a copy of the webcast be made available on your website for the benefit of shareholders unable to attend live online?"
Answer: Always good to put an acting chair through their paces at public company shareholder meetings. Rae Clark came through with flying colours, explaining there were no proxy protests against the chair's share grant. Watch video of exchange via Twitter.
Q4. General question: "We floated as uranium explorer Raisama Ltd in 2009, initially raising $12.25m at 35c. Seventeen years later we're called Peako Ltd and have $48m in accumulated losses and a share price of just 0.7c with 1.7 billion shares on issue. As a relatively new shareholder, can someone briefly explain the company's history as a listed entity and, with the benefit of hindsight, what we should have done differently to deliver a better experience for shareholders?
Answer: Gernot Abl doubled as question wrangler and edited this one down, although at least he explained that he joined as chair two years back to execute a new Saudi gold strategy which was approved by shareholders today. Appreciated him explaining this history as general questions are often ruled out of order at EGMs called to deal with specific items only. Watch video of exchange via Twitter.
Q5. Meeting procedure question: "The AGM on November 24 last year was held as a physical AGM in Melbourne and today's EGM is a virtual affair via Zoom where shareholders had to email out-sourced company secretary Justin Mouchacca, to be sent the Zoom link. Hybrid AGMs are best practice with both a physical presence and an ability for shareholders to participate online. Will you undertake to provide best practice hybrid AGMs going forward and include the online link in the notice of meeting, rather than creating an additional barrier to entry by requiring shareholders to email to request access?"
Answer: Likeable Chair Gernot Abl read this one in full and promised to look into holding best practice hybrid meetings going forward, plus including the online link in the notice of meeting. In all honesty, it's probably a waste of money as they only have 364 shareholders and I was the only one who bothered to turn up today. Watch video of exchange via Twitter.
Copyright © 2026 The Mayne Report. All rights reserved
