Hi madasInsurance premium to indemnify the directors is just in...

Hi madas

Insurance premium to indemnify the directors is just in case some is suing them, the legal cost is from the fact that our Directors are suing our fellow shareholders

Also from page 106 of the Annual report:

The indemnity provided by the Company to its Directors may also result in the Company incurring additional costs if the action is not successful. This doesn’t make sense as the indemnity is only to cover our Directors in a case that someone is suing them so if the case was not successful why would there be additional cost, I think here they are talking about our Directors suing someone else and if the case was not successful then there would be damagers to be payed and additional cost incurred
as there is no indemnity insurance for suing someone and losing the case.
Given that they can’t use the indemnity insurance to pay for their cases we are having the foot the legal cost ourselves and I can’t remember voting on the issue of paying for our Directors legal fees and that is why I sent me concern to ASIC