BoD composition, and 1M options granted to a directorFolks,
I am trying to understand the dynamics of the new Board of Director (BoD) following the re-shuffling with Peter Gundy as the Chairman of the BoD. The objective of the exercise is to see who has the control of the BoD.
Currently, we have, from AZX website the following directors
1. Walter Henry (was Chair, now member of audit, nominating/compensation committees)
2. Eric Owen, Co- Founder, President & CEO
3. Robert Geis, (appointed 18 Oct 2012)
4. Gary O'Connor, (appointed 8 Sept 2016)
5. Priya Patil, (appointed 3 Nov 2016)
6. Peter Gundy, (appointed as director 02 Feb 2017, and Chairman 03 Apr 2017).
Here is my current guess: Henry is in Owens's camp. Not sure if Gneis is an independent director. O'Connor could be AEM nominee (AEM has 8% and a major owner, hence would be expected to have some kind of representation on the BoD. Patil could be an independent director?
Gundy must be Srpott nominee, since is has 8.5% + (Eric S. $2M investment in shares ant wts). So, Sprott + friends could end up with over 20% (triggering level for creeping TO). At any rate, as stated in my previous post Sprott et al are now king-maker. But, AEM would have a lot of say in that BoD as well.
Question 1: Will this BoD has enough control to cause any change of control of AZX, e.g. replacing the current CEO with a new one, or initiate a merger (Gundy is a M&A specialist).
Question 2: As a supplementary question, the recent NR on Gundy appointment as Chair, mentioned "1 M incentive options granted to a director (un-named)". As I recall, one poster has indicated that it was granted to Owens, but I could not find that post. Is there a link to the information? I thought it would be more logical to grant that to Gundy as an incentive to perform his job as the Chairman of the BoD.
Any input would be appreciated.
GH