ZAG 0.00% 1.7¢ zuleika gold limited

Spot on ccell. Statements like theses below mean nothing when...

  1. 1,348 Posts.
    lightbulb Created with Sketch. 106
    Spot on ccell. Statements like theses below mean nothing when the company shareholder base is controlled by a few people holding the majority of the shares. This ‘numbers advantage’ creates an environment where the Directors have the ability to put forward any proposal they wish knowing it will be approved with a shareholder vote. The quotes below are from the DAU website.

    Corporate Governance.

    The Directors monitor the business affairs of the Company on behalf of Shareholders and have formally adopted a corporate governance policy which is designed to encourage Directors to focus their attention on accountability, risk management and ethical conduct.

    The Board is responsible for the overall corporate governance of the Company, and it recognises the need for the highest standards of behaviour and accountability. The Board has already developed and will continue to develop strategies for the Company, review strategic objectives, and monitor the performance against those objectives. The overall goals of the corporate governance process are to:


    to drive Shareholder value; FAIL

    assure a prudential and ethical base to the Company’s conduct and activities; BIG FAIL
    ensure compliance with the Company’s legal and regulatory obligations; PARTIAL FAIL

    SCHEDULE 1 – DAU BOARD CHARTER
    In carrying out the responsibilities and powers set out in this Charter, the Board:
    (a) recognises its overriding responsibility to act honestly, fairly, diligently and in accordance with the law in serving the interests of its shareholders.


    Malcolm and Annie. How do you think you’ll go at your Annual Performance review this year, a requirement set out in your charter? My guess is Malcolm will be reviewing Annie and Annie will be reviewing Malcolm so it will probably end up with a “well done to all” outcome.

    PERFORMANCE REVIEW
    An annual performance review of the Board shall be undertaken that:
    (a) compares the performance of the Board with the requirements of its Charter; and
    (b) critically reviews the mix of the Board.


    The dangerous thing about this situation is that whatever Malcolm and Annie choose to do they can just go ahead and do it. Whether it is further funding for Aurigin Foods or placing DAU into a debt situation with its funding to VAN, it’s not a bad spot of privilege to hold particularly if you are working to a 3 – 4 year plan … what can shareholders expect next?
 
watchlist Created with Sketch. Add ZAG (ASX) to my watchlist
(20min delay)
Last
1.7¢
Change
0.000(0.00%)
Mkt cap ! $12.51M
Open High Low Value Volume
0.0¢ 0.0¢ 0.0¢ $0 0

Buyers (Bids)

No. Vol. Price($)
3 222667 1.7¢
 

Sellers (Offers)

Price($) Vol. No.
1.9¢ 349999 2
View Market Depth
Last trade - 19.00pm 29/03/2024 (20 minute delay) ?
ZAG (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.