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Notice to Remove Director - Corps Act, page-38

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36 Posts.

2

29/10/18

21:36

Post #: 36305014
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Originally posted by mbarring: ↑

All well and good to force MT out, and I certainly have no disagreement with the sentiment.

What worries me is the potential poison pill sitting on the balance sheet with some $763,000 payable in employee benefits. How much of that is MT, and how much is due and payable when he leaves.

And where would the cash come from to pay him out. I don't see it sitting anywhere on the balance sheet. So forcing him out and creating an immediate cash liability may be the final straw from which no new Director, no matter how good, can recover.

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Good point mbarring.
This could all get quite ugly. May well bring in more sellers.

APG Price at posting: 0.1¢ Sentiment: Sell Disclosure: Held
2 Upvote

0 Great analysis

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