IMHO
Good Corporate Governance requires that the CEO should not be the Chairman as the CEO needs to be accountable to someone in a public company.
Our CEO arrogantly thought that he was the exception and he could run CTL without any guidance or input from others. How wrong he was!!
Also you should have a minimum of 3 directors but not in CTL's case and their excuse for not having 3 directors falls down completely because of their lack of adherence to Good Corporate Governance in the first place.
What a joke this lot are
Ann: Update on deed of company arrangement proposals, page-35
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