On 17 July 2014 I said that there may be some irregularities with the appointment to the PPN board of the boss' son, MICHAEL JOHN TRIMBLE and to stay tuned to 'Hot Coppers' [sic] for further news.
Well you didn't have long to wait despite there being no ASX announcement.
The ASIC website says that a second Form 484 [appointment or cessation of director], was lodged with them on 18 July 2014 cancelling the appointment of Trimble's son.
It seems that Micky's race car stalled on the grid and he was run over by the safety car. What bad luck. For Micky's sake, I hope he didn't sign any important PPN documents during the period 17 June 2014 to 17 July 2014.
No new directors can be appointed without the approval of the VCGLR [Liquor licencing].
PPN is back to only two directors and the suspension saga continues.
PPN Price at posting:
20.0¢ Sentiment: None Disclosure: Held
