dilligas
Well, yes. I too wondered about the effect on the enterprises in China. Rather ominously for GCN's future I feel, the announcement of Jermaine Jackson's instant resignation makes no mention of his staying on in his key roles of director of GO JLJ Entertainment Pty Ltd and Jermajesty Holdings Pty Ltd, in which GoConnect has major interests. That uncertainty should be clarified.
GCN's webpage at
http://www.goconnect.com.au
is now showing that the number of its directors is reduced to two - Richard Li as Executive Chairman and Phillip Chan as Non-Executive Director.
Curiously, Stephen Law does not replace Jermaine Jackson as a director, but is appointed to GCN's China Advisory Board - whatever that might be.
I am wondering whether a company can remain listed on ASX if its board is reduced to only two directors?
No reasons are given for Jermaine's resignation as a director of GCN. The Annual Report released on 1st Oct 2014 shows he attended no meetings of the board, so the explanation cannot be his onerous duties as a director. Perhaps the resignation has something to do with the the proceedings to liquidate CoConnect Australia Pty Ltd.
I was reminded of a media report on Jermaine's original joining with GCN. It's still worth a read under 'Jacksun tunes in' at:
http://www.smh.com.au/business/smith-cant-resist-a-little-advice-20130430-2ir0v.html
Richard Li is quoted as saying about Jermaine Jackson: "It's a matter of chemistry - we just clicked."
Is there a word 'unclicked'?
