Yes Mac. These are key questions to ask - perhaps we should ALL do a bit of digging into the past of our 'independent directors'. Clearly Zijin have made audacious use of Bermudian law to cynically advance their position. 'Independent directors', under Bermudan law, are a mechanism for companies to push their agenda despite the views of minority holders. Under Australian law, independent directors exist as representatives of non- alligned shareholders. This is where the ASX has a dilemma. The ASX is allowing this conflict to exist on their watch. I believe their position needs to be tested - we'll see what unfolds.
NKP Price at posting:
9.0¢ Sentiment: Hold Disclosure: Held