1. Most Discussed
  2. Gainers & Losers

CHANGE OF COMPANY SECRETARY - NO MENTION OF DEPART

  1. Grant62

    4,744 posts.
    It was my understanding that ASX Listing Rule 3.16.1 required immediate notification of "a change of chairperson, director, chief executive officer (or equivalent), or company secretary".

    On 27 May 2002, NFD's CEO, Max Ould, advised of the appointment of NDS's CFO, Clive Hooke, as Company Secretary.

    There was no corresponding announcement at the time concerning the departure from NFD of the previous Company Secretary (and General Counsel), Janice van Reyk.

    When Ms Reyk was appointed to her position in January 1999, the ASX release at that time advised of both Ms Reyk's appointment, and Mr Smith's resignation.

    Indeed, this is the approach that most listed companies operating on the ASX seem to adopt.

    In the case of NFD, however:
    1)
    no notification of Ms Reyk's departure /resaignation as Company Secretary has been made; and
    2)
    no explanation has been forthcoming regarding Mr Hooke's appointment as Company Secretary (the Company Secretary reported in to the CFO, but otherwise, the CFO was not a member of the NFD Board).

    In late April /early May, NFD was advising in the Australian Financial Review for the position of General Counsel /Company Secretary.

    This suggests that Ms Reyk may well have departed from NFD at that time.

    Why?

    No-one knows, and clearly the Company has been less than disclosing on this issue.

    With consolidation of the dairy industry fast approaching with Fonterra, Dairy Foulds, and Danone all predominantly represented on the NFD share register, could this be a case of:
    1)
    NFD executive management jockeying for position; or
    2)
    NFD management not wanting to highlight the departure of a senior executive (for whatever reason).

    Time, will tell on this issue.

DISCLAIMER:
Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.

Top