If I read this right, Trimble as Managing Director did not have to stand for re-election but he used his personal vote to make sure that one of his mates, a declared bankrupt and convicted tax evader, was nominated to the Board. At the same time, he vetoed the nominations of four candidates with unblemished records and good management qualifications. I understand that the police will now review Bottazzi's nomination and decide whether he is fit for purpose. If they knock him back, PPN will remain suspended for having less than the minimum number of directors and the whole purpose of having the spill meeting - to elect a proper Board - will have been foiled by one bloke acting in his own interest and not in the interest of the company. PPN has been suspended for 18 of the past 20 months, for one reason or another. Our legislators and watchdogs should take a hard look at this sorry excuse for a public company and come to their own conclusions about whether it is conducting itself in the manner expected of a listed enterprise. If it isn't, it should be wound up.
PPN Price at posting:
20.0¢ Sentiment: Hold Disclosure: Held