Ann: Board of Directors - Appointment and Resigna, page-2

re: Ann: Board of Directors - Appointment and... CHANGE OF DIRECTOR ANNOUNCEMENT
Isn't this announcement about the change in directors a bit late? In my post of 23 March, over 2 weeks ago, I mentioned that the PPN website advised of the change of director. It is my understanding that the change occurred a lot longer than 2 weeks ago. Perhaps the ASX or ASIC read my postings and applied some pressure to make an ASX announcement.

The last couple of directors didn't own any shares in PPN so I expect Nick doesn't either, especially since PPN was suspended before his appointment. Why don't these people have sufficient belief in the future of PPN to buy shares in the company?

LONG AWAITED AGM & FINAL ACCOUNTS
It is my understanding that the PPN auditor is close to resolving the matter of the 2011 final accounts but has not yet done so.

As 4 weeks notice of an AGM is required we are still looking at at least early May before an AGM can be held. Clause 69 in the PPN Constitution requires that ".... at least 28 days notice of a general meeting must be given in writing to those persons who are entitled to receive notices from the Company...."