I emailed Mr Watt yesterday, with the following question.
-----Original Message----- From: @yahoo.com] Sent: 11 November 2014 14:42 To: Roddy Watt Subject: Mr Arun Srivastava - but why???
Good afternoon Mr Watt,
What a delight it has been to log in these past two days to find a RNS regarding Edenville waiting to be read. Very positive news on both occasions, which brings me todays RNS (Tuesday 11th Nov) regarding Mr Arun Srivastava.
On the 19th September it was announced that Mr Srivastava had been employed as a consultant. It was stated that "Mr Srivastava's extensive sector experience and depth of knowledge contributes greatly to the analysis and development of the power options open to Edenville." Now less than 8 weeks later, Edenville have decided to replace Simon R, the man that brought Edenville to AIM financial market, and replace him with the consultant it employed in September of this year. If Mr Srivastava remained a consultant Edenville would still be able to draw on his extensive knowledge and contacts, so why make him a (non-exec) director after 8 weeks? It would seem that Mr Srivastava "has agreed to join the Board having seen the potential for the Company during his site visit and desk-top studies relating to coal to power prospects in Tanzania", but in order for Mr Srivastava to agree to join the Board, Edenville needed to offer him a position. He may of liked the company, but if no position was available he couldn't join, but Edenville made a position vacant for him.
Something doesn't sit quite right, just because he liked a site visit (to see what?) and some desk based activities, all of a sudden Edenville are offering him a Board position, a salary, pension, annual leave, etc etc and also Edenville then sees Simon R step down. Mmmmmmm, just doesn't sit right with me and others.
Can you confirm to me by email that the appointment of Mr Srivastava as a non executive Board member is a condition, clause, or any part of an agreement, contract (I could list a whole range of words, but they would all mean the same thing and I'm sure you understand the principle of my question) with any other company (such as a potential JV company or the company that signed the Expression of Interest) - i.e. we'll sign up with Edenville if Mr Srivastava is put on the Board of Edenville.
Conversely, can you confirm that the appointment of Mr Srivastava as a non executive Board member is NOT a condition, clause, or any part of an agreement, contract connected in ANY WAY to the onging discussions between Edenville and another company.
One of the above statements is true, please can you confirm which of the above two statement is true. I think these are important questions to answer, so I look forward to your response. If I have not heard from you by close of play Thursday I will contact you again.
Regards Dr XX This email has been scanned by the Purple Matrix Email Security System.
I am a consultant in power industry.Was Managing Director&CEO of Essar Power Ltd ,Mumbai (India) till May 2009. Was with Essar Group for 19 years and joined the company as its "first employee".During my stint in Essar, was responsible from concept to commissioning of two large size Gas based Combined Cycle Power Project ,each of 500 mw capacity and was also responsible for development three 1200mw each Coal based Power Project. Also worked with NTPC Ltd and Tata Consulting Engineers.Was associated for development of large sized Power Projects. Was Project Engg Manager of 3x500 mw Ramagundam Power Project as well as Anta Gas Based Power Plant.
I am Independent Director on the Board of Prolec GE promoted Indo-Tech Transformers Ltd a listed Co.
I was Advisor/Consultant to Enam Holdings Pvt ltd .Mumbai for three years
Advising leading Corporates in Thermal and Gas based power power projects/ Non Conventional Energy and led a team to set up and successfully commissioned one 25 mw Solar Power Project in the State of Gujarat.
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