Polo Resources Share Discussion Threads

[dekle] 06/7/2020 09:35

Fed up with this and sold today so I'm out

[russman] 06/7/2020 08:20

Polo BoD = Tang and 2 NEDs. Tang can & has done as suits his personal benefits. It is a travesty of corporate governance.

[russman] 05/7/2020 09:19

The Chairman of any company would wish to control his BoD. In Polo case, Tang would not want an outsider who disagreed with him. So Polo pays the NED salary; Tang uses shareholder capital as he wishes. There is no corporate governance to support minority shareholders.

[glavey] 05/7/2020 00:29

I always understood it was etiquette to post a credit when one plagiarises the writing of others. ;-) Let me help: hTTps://www.iod.com/news-campaigns/news/articles/What-is-the-role-of-the-NonExecutive-Director Now, back in the real world of AIM, BVI and such incongruities where chief and chair congeal at the seat...

[johnnyrambo1] 04/7/2020 16:05

And again more brown stuff from 888. Ten years of brown stuff

[888icb] 04/7/2020 13:18

You said Tang paid them. Make your mind up.

[johnnyrambo1] 04/7/2020 13:03

The shareholders with the coming increase of capital and the dividends paid by companies polo is invested in will pay him idiot

[888icb] 04/7/2020 10:52

Who recruits any NED in any company and who pays their salary?

[russman] 04/7/2020 10:30

& Tang recruited them. & Tang pays their salaries.

[888icb] 04/7/2020 09:32

Essentially the non-executive director's (NED) role is to provide a creative contribution to the board by providing independent oversight and constructive challenge to the executive directors. There is no legal distinction between executive and non-executive directors. As a consequence, in the UK unitary board structure, NEDs have the same legal duties, responsibilities and potential liabilities as their executive counterparts. Clearly, it is appreciated that NEDs cannot give the same continuous attention to the business of the company. However, it is important that they show the same commitment to its success as their executive colleagues. It follows that NEDs are subject to the codified duties of directors contained in the Companies Act 2006 in the same way as executive directors. Prior to accepting a non-executive appointment, the prospective appointee must ensure they have a comprehensive understanding of the company they are about to join and have undertaken their own due diligence. Once appointed an NED should ensure that an appropriate induction programme is put in place; they participate in on-going training and keep up to date with developments in the company and the relevant business sector. There has been a call for improved corporate governance at GCM and Polo and the usual way of achieving that is an independent NED. GCM have responded with a recent appointment. That job comes with duties,responsibilities and accountability under the Companies Act. If the NED does not do his job properly he is at legal risk and also risk to his reputation.

[johnnyrambo1] 04/7/2020 06:30

Cashing a salary is a job...

[glavey] 04/7/2020 06:05

"The surprising thing to some of you is that the new Ned is there at all as why would he want a job with a doomed company." A job? What's he to do?

[glavey] 04/7/2020 05:49

"GCM has two NED." There are NEDs and then there are NEDs "Doubt Tang would disclose anything, even to his own BoD." A considered opinion in which you are probably not alone.

[johnnyrambo1] 03/7/2020 15:54

Recovered😂😂😂8514; says the idiot glued into this for decades

[888icb] 03/7/2020 14:34

Polo share price has recovered to 2.24 down just 0.4% on volume of 340000. So the asked price is now being paid.

[johnnyrambo1] 03/7/2020 11:25

Last traded price 1.76p -21% Nobody is ready to pay the asked price Ouchhhhhhh

[johnnyrambo1] 03/7/2020 09:48

And a big hole

[888icb] 03/7/2020 09:48

Polo ask 2.34

[alpal2] 03/7/2020 09:43

Like a Polo sweet, the way it works is that: 1} Tang gets the the outside [$1m pa.] 2} Minority shareholders get the hole in the middle [Zilch!]

[johnnyrambo1] 03/7/2020 09:36

Polo down 9.33% bid at 1.75p

[888icb] 03/7/2020 09:23

Polo spread 33.7%

[johnnyrambo1] 03/7/2020 09:14

Polo 2.06p down 8.44%

[russman] 03/7/2020 08:49

Adding an independent NED to Polo would not make much difference. So NED should get access to "inside" information. But are NEDs going to rock the boat from inside. Doubt Tang would disclose anything, even to his own BoD.

[johnnyrambo1] 02/7/2020 19:46

To get a salary and fees paid maybe!!

[888icb] 02/7/2020 19:30

The surprising thing to some of you is that the new Ned is there at all as why would he want a job with a doomed company. Just 2 trades today both buys and Polo Up 3.7%. GCM went down initially but closed back at its opening price. The appointment of the new Ned is a positive move and it’s a pity the market hasn’t given it more attention.