BLT
11/07/2014 14:19
GENERAL
REL: 1419 HRS BLIS Technologies Limited
GENERAL: BLT: Additional Information In Relation To Director Elections
BLIS Technologies Limited
10 Birch Street
PO Box 5804
Dunedin 9058
New Zealand
Telephone: 03 474 1338
Fax: 03 474 9050
Email: [email protected]
Website: www.blis.co.nz
11th July 2014
Additional Information in relation to the nomination of candidates for
election as Directors
The following additional information is provided as background in response to
some recent questions from shareholders.
Review of governance of BLIS Technologies Limited
The Board has conducted a process over the last year that considered a number
of aspects relating to the governance needs of the company. One particular
focus for the review was that of skills required on the Board, as also noted
by the Chair at the last AGM. As part of the review process, a Board Review
was conducted by an external organisation.
A key recommendation was to expand the skill-set of the Board.
Process to seek new Directors
The identification of candidates involved a formal process through the scheme
operated by the Institute of Directors that is designed to identify potential
candidates for Board positions.
As a result of this process, Directors then interviewed potential candidates
and invited Ms Veronica Aris and Mr Graeme Boyd to submit their names as
candidates. At the invitation of the other directors, Mr Offen provided the
formal nominations for the new directors. Mr Tony Offen is a current director
and shareholder through Edinburgh Equity Limited.
Independence
By way of clarification, the former Edinburgh Equity Nominee Limited
shareholding in BLIS which previously represented the joint interests of Mr
Tony Offen and Sir Eion Edgar was transferred to Mr Offen's and Sir Eion's
respective company interests as advised to the NZX in September 2013. As set
out in the latest Annual Report, Mr Alan Mckenzie is the only director that
has any relationship with Sir Eion Edgar's interests (Sinclair Long Term
Holdings and SIL Long Term Holdings).
The only reason that Mr Offen is not an independent director is that his
company (Edinburgh Equity Limited) owns more than 5% of the shares in BLIS
Technologies.
Peter Francis Fennessy
Chairman
End CA:00252669 For:BLT Type:GENERAL Time:2014-07-11 14:19:08
