GRR

2.74%

37.5¢ grange resources limited.

Shagang Offtake, page-60

First 60 Last

Share
Profile

Follow
tennis8

78 Posts.

19

02/05/21

13:51

Post #: 52877223
Share

Originally posted by hoodle: ↑

Our Directors have 4 key responsibilities (AICD)
https://aicd.companydirectors.com.au/-/media/cd2/resources/director-resources/director-tools/pdf/05446-6-2-duties-directors_general-duties-directors_a4-web.ashx

1) Care and Dilligence - This duty requires a director to actwith the degree of care and diligence that a reasonableperson might be expected to show in the role (s 180).A very similar duty is also imposed on directors atcommon law.
Question: Did each and every director act with car and diligence in recommending this change to pricing for a conflicted majority shareholder

2) Good faith – This duty requires a director to act in good faith in the best interests of the company and for a proper purpose (s 181), including to avoid conflicts of interest, and to reveal and manage conflicts if they arise.
Question: Did each and every director act in good faith for the interests of the company and avoid conflicts of interest.

3) Not to improperly use position – This duty requires directors to not improperly use their position to gain an advantage for themselves or someone else, or to the detriment to the company (s 182).Question: Did each and every director not improperly use their position to get this resolution through management and to a shareholder vote?

4) Not to improperly use information – This duty requires directors to not improperly use the information they gain in the course of their director duties to gain an advantage for themselves or someone else, or to the detriment to the company (s 183).
Question: Did each and every director not improperly use information in recommending this pricing change for a conflicted major shareholder?

"As a general guide to fulfilling these duties, reference should be made to the words of Professor Baxt in Duties and Responsibilities of Directors and Officers 21e (2016) at p 72: "During times of difficulty and conflict, the yardstick by which a director may safely judge their own actions is this:
Taking account of all the circumstances, is what I propose to do "in my honest belief" in the best interests of all the shareholders (present and future) of the particular company of which I am a director?"The question is, has each board member fulfilled his or her duty in each of the 4 areas above in recommending a change to the pricing mechanism. Can they honestly prove that this pricing mechanism will not benefit Shagang to the detriment of all other shareholders?

The BOD need to prove that this is in the best interests of ALL shareholders, and the resolution as it stands, in my opinion, fails to do this. I have changed my sentiment to HOLD.

Expand

Good post "hoodle" I changed my sentiment to "HOLD" last week. How ever its starting to look like a "SELL".

GRR Price at posting: 57.0¢ Sentiment: Hold Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

Bitcoin investors need to know the risks

NIM

Nimy to raise $1.21M to explore 'newsy' WA targets

I88

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

SKS

SKS Technologies wins US$90M award to supply power to international hyperscale data centre in Melbourne

ASX hits all time high out the gate on Friday trades following bullish US inflation data

IMM

Immutep reports strong response rate from immunotherapies treating carcinomas

BHP

BHP dips as WA nickel suspended after A$6B hit; losses eased by US CPI and forewarning

Week 27 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

AII

Almonty locks in govt agreement for tungsten oxide plant in South Korea

MDI

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

There are more pages in this discussion • 177 more messages in this thread...

First 60 Last

Add GRR (ASX) to my watchlist

(20min delay)
Last 37.5¢		Change 0.010(2.74%)		Mkt cap ! $434.0M

Open	High	Low	Value	Volume
37.0¢	38.0¢	36.8¢	$355.7K	952.7K

Buyers (Bids)

No.	Vol.	Price($)
1	29999	37.5¢

Sellers (Offers)

Price($)	Vol.	No.
38.0¢	61833	4

View Market Depth

No.	Vol.	Price($)
1	29999	0.375
1	860	0.370
4	90923	0.365
4	69015	0.360
6	263318	0.355

Price($)	Vol.	No.
0.380	61833	4
0.385	104805	9
0.390	115950	7
0.395	170428	3
0.400	86072	13

Last trade - 16.10pm 12/07/2024 (20 minute delay)

GRR (ASX) Chart

Shagang Offtake, page-60

Bitcoin investors need to know the risks

Nimy to raise $1.21M to explore 'newsy' WA targets

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

SKS Technologies wins US$90M award to supply power to international hyperscale data centre in Melbourne

ASX hits all time high out the gate on Friday trades following bullish US inflation data

Immutep reports strong response rate from immunotherapies treating carcinomas

BHP dips as WA nickel suspended after A$6B hit; losses eased by US CPI and forewarning

Week 27 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

Almonty locks in govt agreement for tungsten oxide plant in South Korea

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Shagang Offtake, page-60

Top Stories

Bitcoin investors need to know the risks

Nimy to raise $1.21M to explore 'newsy' WA targets

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

SKS Technologies wins US$90M award to supply power to international hyperscale data centre in Melbourne

ASX hits all time high out the gate on Friday trades following bullish US inflation data

Immutep reports strong response rate from immunotherapies treating carcinomas

BHP dips as WA nickel suspended after A$6B hit; losses eased by US CPI and forewarning

Week 27 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

Almonty locks in govt agreement for tungsten oxide plant in South Korea

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News