so Board was:
Simon Moore - non-exec Chairman and principal of biggest s/h Colintons
Carl Dennis - non-Exec rep of second biggest s/h Wentworth Williamson
Paul Stenson - non-exec Director - Independent
Billy Blackburn - Exec CEO of AJX
Bob Brookins - Exec CTO of AJX.
Is that still correct????
If I read this correctly, we now have two new Directors:
Martyn Strickland - non- exec director - operating partner at Colintons
Randall Lane - non-exec director - presumably an Independent director appointment.
So its now a 7 person board.
Can AJX afford a board with 7 directors in a company short of cash, and with only several million $$ in revenue?
The obvious answer is NO.
So we can expect some a reduction in the size of Board, from now current 7 down to 5 at most.
Of the 7 voices on Board, only two would be counted as "independent". Exec Directors are not generally counted as independent.
Colintons now has 3 voices - Simon, Martyn and the Chair (Chair gets a casting vote).
Colintons now have greater than 50% control - so generally get to have control of numbers on the Board.
I think Martyn is a good choice, because he has been actively involved with AJX, and can hit the ground running.
Hopefully AJX can live up to all its promises, and get some sales quickly.
Geez, we need some good news!
AJX Price at posting:
1.1¢ Sentiment: None Disclosure: Held
