Hi raymona00. What I was suggesting is that if you are a shareholder and are concerned that MR can now sell shares without advising the market, a solution to remedy this would be to advise ASIC of the concern.
The reason for this is that ASIC may request MR to continue to update the market of share sales, despite MR no longer being an appointed director. This may be possible as he may be regarded as a shadow or defacto director. I just searched and found the attached to provide some more colour. I am not experienced in this area, although it makes sense that a CEO with a significant shareholding should be subject to disclosure, whether or not the are appointed as a director. It would be good disclosure policy.
http://www.findlaw.com.au/articles/default.asp?task=read&id=11714&site=GN
Just some thoughts as there are divergent views on the issue.
Hi raymona00. What I was suggesting is that if you are a...
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29.5¢ |
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Mkt cap ! $428.5M | |||
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