"....he has probably not communicated them to the Board"
Cubism. I have posted this fact a couple of times. Check out australian direct investment group website. I posted the link previously. The partners include the 3 Vango board members Frank, Bruce, Sean (+ 1 other)
so your statement about not informing the board is highly unlikely. Also look back further and you will see that Frank and Bruce were principals in another company invested in ORD from at least 2009 (Five Ways)
So I think this board is close, as their joint business interests are broader than just Vango....
I agree with your concerns on CEO salary and "performance"
"one that sees Damiper lose its major asset for no tangible benefit to the shareholders"
Van have 45% and IF/WHEN they prove they spent the last 1m then they will have 60%. So DAU haven't lost their asset, they have $4m spent on it in last couple of years, still have 40%, and VAN needs to keep spending to get it into production. Bigger question if where Van's next lot of funds are coming from, what price and what potential dilution
"that will not be possible whilst the company is being incompetently led by the CEO"
Shareholders can vote against remuneration, and call for resignation at AGM. But now the ownership is closely aligned with board, and the board are very close to CEO, so highly unlikely they would fire him....more likely would be musical chairs
VAN Price at posting:
0.9¢ Sentiment: Hold Disclosure: Held
