In relation to Matthew Beach, the Non Executive Director who has just departed, I doubt anyone here has a seat at the table to really know what happened, but I doubt there was any real problem. Companies rarely go into details about departures, which leaves us Shareholders to surmise.
I thought you would never ask ! .... here is my take :
Matthew Beach was the board appointment linked to Substantial Holder, M H Carnegie who is heavily into investments, including pipelines. Armour needed to do work on our Kincora pipelines, and that work has now been completed, as per recent announcement. We completed repairs and added new pipe areas quickly and efficiently, I assume Mr Beach was there to assist with any red tape and add some expertise and resourcing as required.
The other pipeline work our Company needs is linked to our monster tenements in the far north, but that is all being managed and delivered by Jemima, so our pipeline work is under control for at least the medium term, hence probably a mutual decision that it was time for Mr Beach to move on to his next challenges. One of which is Mr Beach is the Board Chairman of iPipe (a provider of technology solutions, construction and maintenance services to the oil and gas, mining and utility sectors).
Just my take on events, if anyone can add any actual facts here, this would be welcomed !
GLTH
AJQ Price at posting:
9.0¢ Sentiment: Buy Disclosure: Held
