Following my message released yesterday, I have been asked to clarify one point.
I stated that no nominations of new people to join the Board had been received the required six days before the AGM. That is correct. Under CPO's articles, in order for a nomination for election at the AGM to be made, it must be in writing and signed by both the nominating shareholder and the proposed new director. No such nominations were received. A number of names have been provided to me by email and in telephone conversations as potential candidates, but those exchanges did not constitute valid nominations as required by the articles and nobody indicated that they should be regarded as formal nominations in compliance with CPO's constitution.
If Resolution 11 at the AGM is passed, increasing the maximum size of the Board to seven directors, we will consider all suggestions received, whether received formally or informally. As I said yesterday, we would like the Board to reflect a range of opinions and skill-sets.
I hope that clarifies any confusion and I look forward to seeing shareholders at the AGM.