OIL 6.45% 16.5¢ optiscan imaging limited

I am appalled at the conduct of the WA-controlled board of...

  1. 286 Posts.
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    I am appalled at the conduct of the WA-controlled board of directors. Not only have they appointed Zelko Lendich as an interim General Manager to Optiscan without disclosure to shareholders but they have appointed an individual who has been ordered by the Federal Court to pay a pecuniary fine:
    Federal Court orders Zelko Lendich to pay $120,000 penalty for attempt to induce cartel arrangement between egg producers
    2 May 2016
    The Federal Court has ordered Mr Zelko Lendich, who is a former director of the Australian Egg Corporation Limited (AECL) and the former managing director of Farm Pride Foods Ltd (Farm Pride), to pay a pecuniary penalty of $120,000 for an attempt to induce a cartel arrangement between competing egg producers, in proceedings brought by the Australian Competition and Consumer Commission.
    https://www.accc.gov.au/media-relea...duce-cartel-arrangement-between-egg-producers

    Darren Lurie can hardly have missed this fact as they were both previously directors on the board of Farm Pride.
    The OIL Corporate Governanve Policy Statement contains the following:

    -Ratifying the appointment and removal of Senior Executives
    -Establish and maintain Code of Conduct to guide directors and management of the Company in operating in an ethical and appropriate manner at all times.

    By appointing a senior executive who has been ordered by the Federal Court to pay a large pecuniary penalty for his behaviour the controlling directors have shown a flagrant disregard for the Company's Corporate Governance Policy.
    If any shareholder was in doubt about how to vote today then this is a clear demonstration that Dr . Phillip Currie should be removed as a a director and Mr Ian Mann must remain on the board of OIL .

    We will then need another General Meeting to remove Messrs Mutton and Lurie unless they have the decency to step aside.
 
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