"...Maybe Medify will drop past the office." No, @kenjikool, the last time I visited PuriflOH's South Melbourne office, the most energetic soul seemed to be chairman Carl le Souef's family dog.
More recently, the PO3 office appears to have turned into a very quiet place, as if a corporate cemetery.
Take meetings for example. How many board meetings did PO3 convene in 2022? None.
How many did it have last year? None?
Did the group produce a 2023 annual report? No.
Did it run an AGM? No.
Did it file half yearly accounts due last month? No.
Could you blame Simon Lill for asking himself a searching question: "Why am I doing this"?
He made a decision: "I'm outa here".
He renounced his secretarial duties in favor of Adam Gallagher.
Brisbane-based Gallagher runs a contracting business called The Company Secretary. He's a kind of gun-for-hire, a secretarial Paladin.
Now, I know Simon's been a loyal colleague of Carl le Souef for many years.
Yet Carl offer's Simon not one word of gratitude in his resignation announcement posted on March 14.
I note PuriflOH paid ~$302,000 to directors in 2023.
All this to generate a revenue of $5,240.
At the end of the year the suspended, cash-strapped unit still owed directors (including Simon?) $587k.
Can Adam Gallagher help manage a corporate resuscitation? Let's see whether PuriflOH meets its next reporting deadline of April 30.
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