Independence of Directors
Under ASX guidelines two of the current board is considered to be an independent director. Mr B Sampson is the Managing Director and under the ASX guidelines is not considered to be independent by virtue of his position. Mr M Cordiner is independent, as is the Chairman, Mr Gordon Galt. Accordingly the Board is considered to be appropriate for the size of the Company and the nature of its operations and is a cost effective structure for managing the Company.
