Here is the split of the proposed board of directors, with the...

Here is the split of the proposed board of directors, with the Allkem team highlighted.



I suggest you have a read of the bios of the directors being nominated by Allkem: all top notch performers with outstanding expertise and experience to contribute. Also note how on the Allkem website the page on the directors - who after all are the representatives of Allkem shareholders - is front and centre, a clear indication of the importance given to shareholders.

https://www.allkem.co/about/leadership

In contrast when Livent talk about "leadership" on their website it is all about the executive team and the page on the directors is buried in the investor relations tab, and even then the directors' page is listed below another page of info about the executives. You might remember from uni days how looking in at the accounting equation management focus on assets, shareholders focus on equity and lenders focus on liabilities. Well it is fairly obvious to me that the focus of Livent is very much to be a vehicle for Pall Graves and his executive team. https://ir.livent.com/company-information/board-of-directors/default.aspx

As for the nominations by Livent two are out and out FMC patsies, that is Graves and Pallash, Michael Barry (Quaker Chemicals) is punching well above his weight even snagging a directorship at Livent let alone something the calibre of the combined entity, same for Steven Merkt who seems to have not risen above divisional leadership in an admittedly big operation (TE Connectivity). Pablo Marcet seems the real deal and Christina L-O looks to be an absolute cracker of a leader. So I score the Allkem nominations 6 out of 6 and the Livent nominations 2 out of 6 and they lose a point for Pall Graves being a pommy nob from Goldman Sachs. A bit like the assets being contributed, with Allkem providing three tier one projects (how good is James Bay shaping up?) and Livent contributing maybe one tier one project and half of a development project (which will contribute not much more than a third of what Allkem's James Bay will) I reckon Livent is getting a favourable run in the composition of the new board (for starters the split should be 7 to 5 in favour of Allkem).