Although I can’t say I agree with much the Governor says, he does however have a point about Magellan’s representation of it’s (Australian affiliate MPA) CEO on the board, John Thomas Wilson. He was given a spot when the Palm Valley/Dingo deal went through, and was only last year re-elected onto the board. At their current rate of selling, it is not unreasonable that by the end of next week our largest shareholder may go back to being Citicorp Nominees Pty Ltd.
One would assume that if Magellan were to sell out completely, or the parent company went into liquidation, he would excuse himself from the board. Would appreciate anyone else’s thoughts on this (constructive only please Gov).
As for Citicorp Nominees, does anyone know who this is? Seems they joined in 2010 and have been progressively building their position since (albeit small periods of selling occasionally)…
Add to My Watchlist
What is My Watchlist?
