re: Ann: Chairman's Letter to Shareholder... Gamefisher, the new Directors are true "Independent Directors" and I am surprised that the benefits of these highly qualified Independent Directors are not recognised. By definition, a truly independent Director does not have a material shareholding in the company, or a history with it, as this can affect judgement. These new Independent Directors will treat their responsibility to act in the best interests of all shareholders with great respect and constant cognisance.
From the ASX Corporate Governance Council:
“An independent director is a non-executive director who is not a member of management and who is free of any business or other relationship that could materially interfere with – or could reasonably be perceived to interfere with – the independent exercise of their judgment.”
From APRA:
“an independent director is a non-executive who is free from any business or other association - including those that arise out of a substantial shareholding, involvement in past management or as a supplier, customer or adviser - that could materially interfere with the exercise of their independent judgment.”
Agree the recent UK deal was probably the outcome of previous management.
re: Ann: Chairman's Letter to Shareholder... Gamefisher, the new...
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