As I understand it he ( Tony) is a director of ERM - However he also has put his hand in his wallet and holds around 20 million shares. He lives as I understand in WA and is only a non executive director of ERM.
I also don't get the concern about ERM - It was valid when they held JV partnership directly and they could have bought us out or strangled EGO , Now however they have the most skin in the game and its aligned with all shareholders.
In what way can Tony not be working in our favour - the potential conflict of interest has been removed and its clear that ERM no longer have Oil and Gas ambitions - They are off into the USA to sell Electricity.
I think have almost 20% and a huge debt deserves board representation.
I dont think ERM did a great job when we helped them get control but they have moved on and really TI is a professional director these days. Really its about getting the right mix in this business and I am no longer sure we have that. That is why I will vote for KQ.
As regards those that he may be tainted by the past - One vote in a boardroom doesn't change the way it works and especially how KQ got the job - at that stage ERM were in control. This is now he has no links to ERM and obviously they have not said they want him otherwise they would have replaced the resignation with a new appointment. I think there would be a great combination of PG and the background knowledge of KQ. I think they would both be good for us the shareholders. As PG has never engaged with us on HC I think its great for KQ to be there as he has engaged with us.
After yesterday's announcement - really not sure what to make of EGO. Really we are muppets or mushrooms they way we are being treated in my opinion.
EGO Price at posting:
0.4¢ Sentiment: None Disclosure: Held
