I suspect and was thinking the same when I saw the announcement....

I suspect and was thinking the same when I saw the announcement.

Michael Hackett is ensuring he has a friendly successor for some of his roles in AHF (i.e. Chairman and Director) given both the potential of a 2nd strike and also that he is up for re-election anyway and has had over 9 years on the Board of AHF and its predecessor, APA Financials. This length of tenure is well beyond any reasonable or good governance principles.

Then there is the support he needs for his own company, TAU , to continue to draw fees (under whatever arrangement I have no idea since the changes to Jimmy Choo) for various administrative, compliance and accounting functions provided.

It also might mean the sunsetting of Adrian Rowley if Michael Hackett retains a board seat come the AGM and its results. Adrian's presence these days is akin to Keith Jackson's before he exited the Board.

Paul Morrell from Queensland may well be the new Chairman of AHF after the AGM and any board scuffle that might result. The chance of him being tipped off the Board at the AGM on a 2nd strike motion, since he will be appointed as a company director prior is likely, however he may well get voted back on the Board afterwards as he is an unknown and will be supported by Michael Hackett and vice versa.

Games to be had all round really but it is all a bit ho hum and classic survival tactics to head off any unwanted predators or Board threats as has become clearly evident from many comment in here and elsewhere.

There is something sneaky under all this with the new announcements and some timings and geographic presence etc. but I shall let people's conspiracy juices flow and warm up before I make further comment other than, yes, a changing of the guard is highly likely as is some other changes.