You will see that while it is asserted that we have been given a position on the board - there is nothing to prevent HNC asserting its right under this offer to seek to appoint one of thier own as shareholder director.
Since day dot - FH has pressed us to retain high level legal advice and insisted everything must be legally binding etc etc however, when it comes to a real concern of ours that a binding agreement is needed between YAG and HNC- the need for such an agreement seems to evaporate.
It is my personal position that the seat on the board is a token offer already - without an instrumen tto prevent HNC pushing to take that seat it is pretty much worthless.
CMR Price at posting:
15.0¢ Sentiment: None Disclosure: Held
