Ann: Jane Bell Appointed Chair of Audit and Risk Committee, page-9

Talking about governance and interest alignment, @bontz777 posted this on 8 Sep



I noticed Australian Super was a top 10 investor then. I have sat on this matter but given that it is factual and relevant to this topic of alignment, I thought I’d highlight it at this juncture. If it’s our Aussie Super (located in Melbourne where Bell also lives), the most we can say of the small holding is that it is a portfolio investment that could be held through a manager of theirs or their internal equities team.

The company’s current share price, as we all know, reflects a large risk premium concomitant with Bell Potter’s characterisation of its being “speculative”. It should keep the board awake at night. Whether that premium adequately compensates investors for the amount of risk or uncertainty, is something that must be considered along with investors’ own subjective risk appetite and/or strategic angle. Bell should understand this very well.