Being a director of a company - listed or unlisted - is not a...

Being a director of a company - listed or unlisted - is not a right but a privilege.

That privilege exists, by and large, at the pleasure of the company’s members, its shareholders. There are a raft of important duties and obligations arising by reason of the Corporations Act 2001 of which to be cognisant.

Like any election, it is not enough simply to rely on “being there” to justify the continuation of that state of affairs (in my respectful opinion). It is plain reality that what has been publicly seen to be done will likely inform the prevailing view of what has actually been done in the eyes of those not privy to what occurs behind closed doors.

The following extract from the section 4 of the explanatory memorandum is informative:



It is not clear to me why those details are not reproduced in the explanatory memorandum in this section, given their relevance to it being apparent:



From an outsider’s perspective, in my view Marsh and Ranford deserve every last cent of incentive.

Similarly, In my view there is also genuine merit underpinning incentivisation for the incumbent Holzberger.

For the balance, in my respectful opinion the extracts above suggest they have been incentivized more than enough.

Best wishes to all.