Surely if she has a seat on the board there will be many laws, duties, etc. that she will be governed and bound by from that point on: Example below is from a court case highlighting board members duties re conflict of interest when transactions conflict with their duty to protect the company. It’s from overseas but surely it would have similar ramifications and parallels here (Relates to conflict of interest, Corporate fiduciary duties etc) The judgement is quite old, but it is just an example of what was there, and maybe it applies still now:
’Aberdeen Ry v Blaikie (1854) 1 Macq HL 461 Lord Cranworth stated in his judgment that:"A corporate body can only act by agents, and it is, of course, the duty of those agents so to act as best to promote the interests of the corporation whose affairs they are conducting. Such agents have duties to discharge of a fiduciary nature towards their principal. And it is a rule of universal application that no one, having such duties to discharge, shall be allowed to enter into engagements in which he has, or can have, a personal interest conflicting or which possibly may conflict, with the interests of those whom he is bound to protect... So strictly is this principle adhered to that no question is allowed to be raised as to the fairness or unfairness of the contract entered into..." (emphasis added)’
Surely, once she becomes a board member, she must at all times act in the best interests of the company and shareholders. Her doing a takeover IMO could constitute a serious conflict of interest in her duties, and may not be at all in the best interests of the company or its shareholders.
- Forums
- ASX - By Stock
- LTR
- Ann: Kathleen Valley Funding Package
Ann: Kathleen Valley Funding Package, page-555
-
- There are more pages in this discussion • 110 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add LTR (ASX) to my watchlist
(20min delay)
|
|||||
Last
78.5¢ |
Change
0.060(8.28%) |
Mkt cap ! $1.903B |
Open | High | Low | Value | Volume |
76.5¢ | 79.5¢ | 74.5¢ | $19.01M | 24.50M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 46043 | 78.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
79.0¢ | 62337 | 7 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
6 | 45343 | 0.780 |
5 | 40582 | 0.775 |
11 | 294699 | 0.770 |
5 | 233509 | 0.765 |
10 | 270073 | 0.760 |
Price($) | Vol. | No. |
---|---|---|
0.790 | 62337 | 7 |
0.795 | 215875 | 11 |
0.800 | 290815 | 23 |
0.805 | 76233 | 4 |
0.810 | 112626 | 9 |
Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
Featured News
LTR (ASX) Chart |