Reminds of classic saying "Pot calling the kettle black"
Printable View
https://youtu.be/rODaiqvaeew
Matt's mining skills will be put to the test in Rock College...
Breaking up rocks in the hot sun..
NZSA response to FMA announcement:
NZSA SUPPORTS FUTURE GOVERNANCE CHANGES AT NEW TALISMAN MINES
August 12th 2021
The NZ Shareholders Association (NZSA) has been working with concerned shareholders of New Talisman Mines (NZX: NTL) for some time in relation to the conduct of its CEO, Matthew Hill, the current governance of the company and ongoing performance issues.
This has included a representation to New Talisman Mines that NZSA does not support Matthew Hill remaining on the Board of the company.
We note that today, the Financial Markets Authority (FMA) has filed civil proceedings against Matthew Hill, the CEO of New Talisman Mines, for alleged information-based market manipulation and making false and misleading representations.
This is the first information-based market manipulation proceeding brought by the FMA.
As always, NZSA has been supporting retail shareholders to ensure that their concerns are heard by the NTL Board and to advocate for board changes to support governance improvement. Today’s announcement by the FMA vindicates the position taken by NZSA and the group of concerned shareholders.
NZSA will continue to be instrumental in driving change at NTL, by continuing to work with New Talisman Mines and concerned NTL shareholders.
This is an ongoing process, and we look forward to the upcoming annual shareholders meeting of the company to be held on September 22nd. We intend to communicate more fully with all NTL shareholders prior to the meeting, to highlight governance concerns and the position supported by NZSA.
NZSA offers a free proxy service that allows retail shareholder votes to be counted, including for any upcoming resolutions at the New Talisman Mines shareholder meeting. Contact teresa@nzshareholders.co.nz for further information on this service and the registration process.
So from my limited understanding, if found guilty of dishonesty the court/FMA can ban a person from serving on boards/directorships etc, be interested to hear about other potential outcomes from anyway with more knowledge than a few googles (a.k.a me).
Also I loved the line 'about lack of moderation' when it was in fact the moderation that shed light on potential wrong doing..
Haven't been following this issue too closely, however pretty bad release from the Chairman regarding this. Absolutely weak and paints the entire board as a complete utter disgrace in my personal opinion.
http://nzx-prod-s7fsd7f98s.s3-websit...131/352037.pdf
That response was from the chairman of the board not Matt. After reading the response my view that the total board should be replaced has been reinforced and of course There in lies the problem who would take this on.
The prospects for NTL do not look good. Investors may get some money back if this ends in a class action but we can only expect cents in the dollar in the very distant future.
And due to announce details of the capital raise tomorrow.