I am so confused, so over all the infighting, and I still don’t know who’s best to sit on the board. I’m considering:
- Drakes's nominees both sound excellent and they can both add value.
- Drake shouldn’t be allowed its “own” people on the board. The board should be independent and represent the best interests of ALL shareholders. Can their nominees do that? Maybe.
- Drake have made some fair points up until now. Many of which I agree with. They've also muddied the waters and haven't always been as truthful as they could have been.
- I like the idea of a board with an international makeup. On the other hand, SMN is an Australian company and is listed on the ASX. Perhaps its board should have a heavy Australian component. If we need internal representation, we can hire experts.
- Deurloo sounds like he’s an enormous loss, BUT, the way he handled his resignation shows poor judgment and poor corporate governance, and in that sense, it makes his leaving easier. As Longreach said in another post, you have to wonder what else he’s been up to behind the scenes.
- If none of Drake's nominees get in, Drake should give their commitment to work with the board voted in by the shareholders. If they can’t, they should keep quiet or sell out in the company’s best interests. I know that may not be easy, but we can’t have Drake undermining everything the board is trying to do.
I’m still not sure who I’m going to vote for. Can’t wait for all of this to be over.
