Attention Diectors!, page-2

I too am concerned about the BODs and their individualperformance, especially the Chairman, Martin Kriewaldt .

I have criticized Mr.Kriewaldt in the recent past regarding his statementdefending his application of time to shareholder communications. He said hespent 4 hours in discussions with a very small shareholder,claiming it wasappropriate and an efficient use of his time. I disagreed with his self-assessmentat the time, as did a very significant shareholder at the last AGM.

This BOD has stated they were going to raise the priority of shareholdercommunications to a high level status. To date they have failed to do so. Theonly member of the BOD who seems to be working hard and achieving anything, isthe current CEO, whilst the current Chairman seems to be on extended leave.

This Chairman is the same bloke who I also raised an issue about when he wasannounced as a new Board member in Oct 2017. The issue I raised was his previousBoard position on BrisConnections, a company that was involved with the failureof Brisbane’s Airport Link which collapsed in a spectacular fashion. You willnot see it referenced in his current list of previous BOD appointments, forobvious reasons. The BrisConnections Airport Link failure is considered theworst "tunnelling related" corporate failure in Australia. Ourcurrent Chairman, along with three other Directors from BrisConnections, must  stand and face arguments in Court of "contributorynegligence" as they did not take reasonable care to assess advice providedto them by Macquarie Bank, and that they "failed to look after their owninterests". Such legal arguments are not something of which to be proud.

I understand that this matter has not yet been resolved in the Courts, so wewill have to await the eventual outcome however, I am concerned that Mr.Kriewaldt is not the powerhouse Chairman we need to guide our little Companyinto the "A Grade" competition of O&G producers.

We urgently need some action at a Boardroom level to get usrolling again.

Read more: http://www.copyrightlink/brand/rear-window/arup-macquarie-and-brisconnections-let-the-tunnel-wars-begin-20170420-gvodph#ixzz4wOAGQkCb