John veet, Good insight. I'd also add that while not a legal...

John veet,

Good insight. I'd also add that while not a legal requirement, ASX Corporate Governance Principles and Recommendations prescribes that an ASX board should be composed of majority independent directors, specifically:

"Recommendation 2.4 A majority of the board of a listed entity should be independent directors.

Investors expect, and the law requires,21 the board of a listed entity to act in the best interests of the entity and its security holders generally. Having a majority of independent directors makes it harder for any individual or small group of individuals to dominate the board’s decision-making and maximises the likelihood that the decisions of the board will reflect the best interests of the entity and its security holders generally and not be biased towards the interests of management or any other person or group with whom a non-independent director may be associated. Non-executive directors should consider the benefits of conferring periodically without executive directors or other senior executives present."

I tend to agree with hottod and yourself, this is likely to relate to box ticking ahead of a partnership announcement. Bear in mind, the appointment of new directors was flagged within the Chairman's Address at the AGM and may even be a condition precedent or simply streamline getting the due diligence stamp of approval.

Cheers,

5x8's