Quote Originally Posted by Anna Naum View Post
Interesting thing is that the two so called independent directors were both appointed in the last 12 months so have yet to be voted for by shareholders.......thus can they really say the represent shareholders?
Chalkie's take on Marlin and the issue of the independence of the independent directors :

http://www.stuff.co.nz/business/opin...wounded-Marlin

Excerpt : "Swasbrook was aware the contract was up for renewal and contacted Marlin independent director Mark Todd on September 13 to talk about his proposal. Todd resigned three days later. His resignation left just three directors on Marlin's board - Carmel Fisher, Alistair Ryan and Carol Campbell. The latter two are classified as independent.The same three directors comprise the boards of the other two Fisher-managed investment trusts - Kingfish and Barramundi. With Ryan and Campbell collecting directors' fees from three Fisher funds, are they really independent? Had Marlin been a British company, the answer would be no. In 2003, Britain's financial regulator, the Financial Services Authority, considered the issue of investment trust board independence."

Now, would Alistair and Carol be prepared to forgo between $90,000 to $150,000 a year in fees?

Silly question?