I am happy for MR not to hold. I think it is good to have someone on the board who is truly independent and able to look after the interests of all SH.
As an example of a poorly handled situation by Directors, look no further than XPE, imo. Here we have a situation where the Executive Chairman has a shed load of stock. And XPE have an upcoming vote at the AGM where by the Chairman gets a cash bonus upon doing a placement. If he raises at a low SP, his dilution is offset by a cash bonus. The board is stacked in favour of the Chairman and Directors. Most are execs with low-ball bonuses and the other has a commercial agreement. No one is independent and it really sucks! Sucks being the technical term for "not so good".
Although I do not know either PC nor MR, they seem 2 very trustworthy people. They are both Directors of Future2 Foundation; helping disadvantaged young Australians. Sure many of us give money to charities. But only a small number actually give their time too. And whether they hold or not is not a big concern for me. MW has a shed load and MF relies on kicking some serious goals to get a significant hold. This is the best RTO deal structure I have seen by a country mile.
Regardless of my opinion, I'd be happy to see the question asked and answered.
