Directors1 Mar 2024 07:55
What conclusions can we reach from the appointment of the new people? (Although the announcement didn't specify, I'm assuming they are NEDs)
Why have we appointed two directors with a finance background when we already have Vujcic on board? The board composition is now heavily weighted towards finance. It's also dominated by NEDs with only one full time director. This is very unusual.
Do we need these people to help us over the line on a discussion which is currently ongoing? This doesn't seem likely to me as we've got financial advisors by the bucket load.
Are they here to provide introductions to new sources of capital? Again, I can't see it. We must know all likely players already.
Is something on the table which the board feels will require independent recommendations which the current board couldn't provide? In other words, we need NEDs who can lead discussions with current shareholders who may feel the board isn't acting in their interests.
Is Mr Liu a Jiangxi placement and the other fella is there as a counter-weight?
I think this development is pretty odd and, to my mind, there must have been a specific reason behind it.