There was a buzz of expectation here when, on 24 October 2014,...

There was a buzz of expectation here when, on 24 October 2014, SLA told the ASX: Solagran announces the appointment of Dr Ian Nisbet as Non-Executive Director and prospective Chairman.

There is a problem.

SLA's page at

http://www.solagran.com/board-of-directors.html

lists only three directors - namely Vagif Soultanov, Alexander Kurganov, and Andi Solaiman.

I have just checked ASIC's current records, and again only those three names are mentioned as directors.

So where is the director Dr Nisbet?

Alexander Kurganov  and Andi Solaiman have given ASIC addresses that are overseas. So only Vagif Soultanov is resident in Australia.

Without Dr Nisbet (or some other Australian resident) as a director SLA cannot be listed on the ASX. I say this because ASIC makes it plain at

http://asic.gov.au/for-business/starting-a-company/minimum-officeholders/

A public company must have at least 3 directors (not counting alternate directors). At least 2 directors must ordinarily reside in Australia. (s201A(2) of the Corporations Act 2001)