RE:RE:RE:RE:RE:ASIC v Enegra Pty Ltd - Criminal Conviction Court RecordMarketMan123 wrote:
Yes shneps it is complicated - here is list of executive directors taken from snapshot of Enegra website during non-compliance period between 2014-2019:
What's so complicated?
A regulator gave the
current directors a direction to comply for failure to file financial reports and hold an AGM, and the
current directors including
David Vincent, CEO of Canamex, failed to comply resulting in a criminal conviction
According to
Matthew Averay's LinkedIn page he was the Chief Financial Officer of the company from 2012 to 2019
The previously posted
ASIC extract for Enegra Ltd shows that Matthew Averay has been the company secretary since 2014 (It also shows David Vincent was removed as a director just 13 months after he was first appointed in 2012, read into that what you will)
It is the Company Secretary that is responsible for filing financial documents with the regulator
It is the Chief Financial Officers job to prepare those documents for the board
Even if we were to accept the absurd premise that the managing director of a $40B company was somehow preventing the CFO or Company Secretary from filing financial reports, what was to stop the secretary from filing those reports if the managing director was removed?
How about the failure to hold an AGM? What stops the new board from addressing that?
How do you even elect directors if there is no AGM, and even if you do have an AGM, how do you do it without the approval a 76% shareholder?
Then if you overcome that
complicated scenario why on earth would you then rush to create a new company in Malaysia to own it all?
Why would you change a public company structure to a private company at the same time you are having issues with the regulator?
Given all of the facts, it's actually not complicated - the company has been charged with multiple crimes, because of criminal actions. Directors are those who choose the actions of a company