Ann: Director Appointment/Resignation, page-4

Hi Umshebi,

I share your sentiments.

With two independent non-executive directors resigning within a few days of each other, speculation has found fertile ground.

My take on it goes in the totally opposite direction to EWC’s share price movement over the last 2 days, as I assume that such a quick succession of resignations, following ‘hot on the heels’ of EWC’s preliminary final report which shows steady financial results and indicates further progress on finalizing finance deals in respect of its major projects, is due to these two directors not ‘getting their way’.

To put my speculation in another way: if you lose one independent non-executive director who does not share your vision you are doing well. If you lose the second independent non-executive director who does not share your vision you are doing exceedingly well.

Now that the road could be clear of (internal) obstacles, let’s see where it takes us.