And for the record, BiG did not announce that they had appointed...

First 73 Last

Share
Profile

Follow
wewill

365 Posts.

70

29/03/18

19:44

Post #: 32131330
Share

Originally posted by skyva ↑

Every asx listed company engages lawyers, often several different firms, for all sorts of reasons, but few announce it as a feature. And a company cannot "outsource its responsibility". You can only outsource advice.

Typically you should be compliant from day one, and when you want to try something new, you may need to get advice on whether it is allowable and how to do it. You then follow that advice. Same with accounts. The treatment of revenues and expenses shouldn't be changing on a regular basis. You don't need to consult lawyers weekly for this stuff if you are competant.

BIG have engaged a new company secretary who has corporate governance experience. The company directors should have that experience as well if they are directors of a listed company. That's part of the job requirement. Its what everyone else does. But hey, a partner of DLA Piper will happily advise you for $800+/hr of shareholders money for as long as you want.

This is a problem that happens when you have a twentysomething CEO and a company founder with a history of not following the rules (as per the previous company).

As an analogy, imagine you walk into hospital to check on a dear friend who has been in a nasty incident. You can't find out any information, but they say "don't worry, we have engaged the best brain surgeon available to deal with the issue"

Whether that makes you comforted or worried depends on what you thought was wrong in the first place.

Expand

And for the record, BiG did not announce that they had appointed PIPER on the ASX. It was released on their website.

And i also think that given the current suspension, it makes sense to appoint a gun team for governance and to have this mentioned on their website.

All IMO.

BIG Price at posting: $2.22 Sentiment: Hold Disclosure: Held
6 Upvote

0 Great analysis

Reply

Top Stories

Has uranium run out of steam? An update on nuclear markets & developments ahead in FY25

Week 27 Wrap: "Election year" is here as UK Labour win contrasts France; Trump wins immunity & annual report season hushes ASX

TVN

Tivan and EARTH AI gear up to commence fresh drilling at Sandover lead-silver project, NT

ITM

Fast-track assaying yields 182 g/t gold for iTech at new NT play

LLL

Leo Lithium announces major divestment of flagship Goulamina project to Ganfeng

KGL

KGL sniffs 19% Cu from drilling at Rockface play in NT

STN

Saturn’s stars have aligned for the gold explorer’s Apollo Project

The Big Deal: Free-to-air TV swings the axe, but will it be enough as enormous sports deal bills loom?

RHI

Red Hill Minerals Signs $6.5 Million Agreement with Peel Mining to Explore Curnamona Project, NSW

Climate change to drive market trends to the moon

There are more pages in this discussion • 205 more messages in this thread...

First 73 Last

Add BIG (ASX) to my watchlist

And for the record, BiG did not announce that they had appointed...

Top Stories

Has uranium run out of steam? An update on nuclear markets & developments ahead in FY25

Week 27 Wrap: "Election year" is here as UK Labour win contrasts France; Trump wins immunity & annual report season hushes ASX

Tivan and EARTH AI gear up to commence fresh drilling at Sandover lead-silver project, NT

Fast-track assaying yields 182 g/t gold for iTech at new NT play

Leo Lithium announces major divestment of flagship Goulamina project to Ganfeng

KGL sniffs 19% Cu from drilling at Rockface play in NT

Saturn’s stars have aligned for the gold explorer’s Apollo Project

The Big Deal: Free-to-air TV swings the axe, but will it be enough as enormous sports deal bills loom?

Red Hill Minerals Signs $6.5 Million Agreement with Peel Mining to Explore Curnamona Project, NSW

Climate change to drive market trends to the moon

Featured News