positives of mark bouris & ado, page-13

Ideal ADO board is a mix of investor representation like Richard Martin, Finance and governance and business like Andersen, Entrepeneurial skills like Bouris and specific industry contacts and product understanding - Vacant but the CEO can fill the void at the moment - actually permanently but it would be a better result to have the role filled at a governance level.

Bouris also brings profile - for ASX listed small companies this is incredibly important. It may sound silly but so many investors will buy small amounts of ADO blindly now on recommendation - simply because the see a successful public figure on the board - even more so as the chair.

I was once a significant shareholder in PRR and the science was the same but a little less developed - in fact I'd say back the PRR had more propects than it does now. Since Lucy Turbull became the chair it has never looked back.

Don't underestimate the effect a high profile chair can have in opening doors and attracting investors. Bouris won't change a single signature - thats a management function not a governance function - but I'll bet he changes the earnings multiple we trade at if those signatures arrive. Present a company with say 5 or 10 signatures earning say $10m a year NPAT and 40 or 50 still to sign and the multiple we trade at would be 10 to 15x without Bouris and 20-40x with him (all IMHO).

It just attracts a whole difference group of investors.