Ms. Jocelyn Bennett owns no BEZ shares (more accurately BEZ CDIs) in her own right. Pangaea Resources, of which Ms. Bennett is a director and shareholder does own BEZ shares. According to today's announcement, contrary to BEZs Trading Policy, Pangaea sold 2,430,598 CDIs.Members may recall the speculation here regarding the 1 August trading halt.
BEZ acted swiftly and suitably, asking Ms. Bennett to tender her resignation from the BEZ board. On 2 August she resigned from the BEZ board.
The doctrine of a company having a separate legal personality is not a difficult concept. See Salomon v Salomon & Co Ltd [1896] UKHL 1 https://www.bailii.org/uk/cases/UKHL/1896/1.html (On one view, it is an amazing case in regards to the advancement of corporations law). Ms. Bennett and Pangaea Resources are distinct legal entities.
