Ann: Change in substantial holding, page-18

If you are a MD, you are full time and 100% driving the company. You don't dabble in other projects. A conflict of interest arises where there is potential for someone to use their knowledge or position for the benefit of others/themselves or to the detriment of the company. The conflict can be perceived or actual - they both give rise to conflict. In my view, Mac Equity's continued involvement through Mr Walsh and Ms Woldon (both on Board), together with the MD, provide a perceived conflict, which may or may not give rise to an actual conflict situation. Seems very odd to me.