FMG 1.91% $21.62 fortescue ltd

Turnball Must Go, page-98

  1. 4,202 Posts.
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    The only one that springs to mind is Pyne, he has joined a series of boards in the defence space and has also backed it up with investing in his own office and team. He is a board member of one of the stocks I own which you can see in my signature and is adding value.

    As a member of a board, you have to undertake an induction and act professionally in the interests of that board. You also have to sign off on a governance framework or a code of conduct

    https://www.fmgl.com.au/docs/default-source/corporate-governance-documents/directors-code-of-conduct-policy.pdf?sfvrsn=40fcb95e_2

    Just some core principles below that seem to be contradictory to current behaviours.......

    General principles
    • A director must act honestly, in good faith and in the best interests of the Company as a whole
    • A director has a duty to use due care and diligence in fulfilling the functions of office and
    exercising the powers attached to that office
    • A director must use the powers of office for a proper purpose, in the best interests of the
    Company as a whole
    A director must recognise that the primary responsibility is to the Company's shareholders as a
    whole but should, where appropriate, have regard for the interests of all stakeholders of the
    Company

    • A director must not make improper use of information acquired as a director
    • A director must not take improper advantage of the position of director
    A director must not allow personal interests, or the interests of any associated person or
    company, to conflict with the interests of the Company

    • A director has an obligation to be independent in judgement and actions and to take all
    reasonable steps to be satisfied as to the soundness of all decisions taken by the Board
    • Confidential information received by a director in the course of the exercise of directorial duties
    remains the property of the Company from which it was obtained and it is improper to disclose
    it, or allow it to be disclosed, unless that disclosure has been authorised by the Company, or
    the person from whom the information is provided, or is required by law
    A director should not engage in conduct likely to bring discredit upon the Company
    • A director has an obligation, at all times, to comply with the spirit, as well as the letter of the law
    and with the principles of this Code
    • A director has an obligation to adhere to the policies of the Company as appropriate.
 
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