I think they had to do the new board appointment due to their...

I think they had to do the new board appointment due to their non-compliance with the ASX corporate governance principles.

Prior to this appointment, the Remuneration Committee (RemCo) consisted of the Executive Chairman Cornelius and one independent director, Paul Donaldson, and was non-compliant with the ASX Principles. This meant that when the Executive Chairman had to excuse himself for any conflict of interest, there was a “Committee” of one person. HAhahaha.

In relation to Seamus Cornelius, the DNK Corporate Governance Statement notes that the RemCo is responsible for reviewing his performance “at least annually”. So Paul Donaldson (who is a Cornelius appointment) just sits on his own and informally evaluates Cornelius’ performance. And don’t forget the ASX Principle that the chair of the board should be an independent director and should not be same person as the CEO of the company. DNK does not appear to have any genuine regard for the principles of corporate governance.

AND it awarded the executives their bonuses during a period of non-compliance.

They have been so busy not finding a project for almost two years, and trying to find a new independent board member presumably, that the Company determined that formal directors’ and executives’ performance evaluations were not necessary during 2023 (re: Corporate Governance Statement!!

Can't wait to see the NOM! Should be a great read of excuses.