Ann: Notice of Annual General Meeting/Proxy Form, page-36

"If the director is an executive of the shareholder and receives price-sensitive confidential information, that then may preclude the shareholder from being able to buy or sell any shares in the company."


This would rarely be an issue. Otherwise directors and employees of any company would rarely be able to buy shares in their company. There has to be a very good reason for price-sensitive information not to be relased to the market. Two SPL directors bought shares recently. If there exists any confidential price-sensitive information at all that SPL has not released to the market then ...... need I say more?

Any director of a company ought to maintain constant awareness of (1) whether the company is adhering to its continuous disclosure requirements and (2) whether all directors and employees are adhering to regulations relating to insider trading.

If there is obstruction or questionable conduct then a director may need to seek legal advice about whether they have a duty to hand over full details to relevant authorities.

So, gaining a board seat might provide an opportunity to clarify many issues and remove some doubts if such doubts have no justification. Surely, this would be very beneficial for shareholders.