I'm aware Sholom Feldman is Pninas son, I'm more concerned with the fact that Pnina and Sholom and David Austin the BOD have assessed Meyer Gutnick as an Independent director using the ASX Corporate Governance Principles and Recommendations 2019, and How they came to that Conclusion, when in Fact Meyer is closely related to both Sholom and Pnina.
What concerns me is the fact that the ASX Corporate Governance Principles and Recommendations, clearly state that "no past or Current Relationships exists between these directors and the Company that may affect their status as an Independent director" In my opinion this Family relationship could severely affect any decisions the Bod make on behalf of the share Holders of CGB, and in my opinion he should step aside from that role as Director to allow true diversity unless the CGB can show he is truly Independent of Sholom & Pnina
Another concern is the Fact that David Austin the other Independent director only attended 1 board meeting according to The 2018 Annual Report, In my opinion this situation is not in the best interest of the Shareholder Either, particularly as Meyer Gutnick, Sholom & Pnina voted on any decisions made on behalf of share holders @ 7 of the 8 board Meetings held according to the 2018 annual Report. As such I think we need at least One other truly independent director on the Board of CGB for the sake of shareholder. https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvTDYD4wu%2FwBCZsfV1ke92GA%3D%3D
CGB Price at posting:
3.7¢ Sentiment: None Disclosure: Held
