RE: Some Big News?24 Nov 2021 13:24
Warthog - by SD
Way I see it rules are rules and if SP can buy and send a message where others cannot then so be it
Edinson reportTue 19:04
Hi Ndr. It's worth noting that he is a NED and not the only one. This
Shares for non-executive directors—issues and considerations
Meaning of ‘non-executive director’
The general definition of ‘director’ is not exhaustive. The Companies Act 2006 (CA 2006) provides that the term director includes any person occupying the position of director, by whatever name called. Thus, it includes both executive and non-executive directors (NEDs).
Executive directors are generally authorised, either by the company’s constitution or by devolved authority from the board, to carry out the day-to-day operation of the company. As such they usually have a full time service contract
And this
NEDs generally:
have no executive authority
play a critical part in the corporate governance of the company, and
are not employees of the company
So imo he actually did what some of the others couldn't. It was as if the founders were sending the best message they could without being held liable for NDAs and the recent ongoing sp conflabs.
Happy here.