AVZ Discussion 2022
- Thread starter GazDix
- Start date
Carlos Danger
Top 20
Not sure about the class of insurance. Check the annual report to see if it gives any details.Anyone remember what class of Directors insurance it was that was increased by AVZ and what the metrics were?
ie Original value and Increased value
Just wondering....got a couple of fkwits on the crapper who are giving me the shits so I'd like to throw something at them before I finally quit that cess pool.....farken
Nigel laughed it off at the AGM when queried saying the business is getting bigger so the insurance has gone up
Bit of shite right there.....I haven't seen the business get "bigger"
From the AGM:
Directors insurance going from 90k to 500k, why?
A: no claims against us, the rise is because we’ve developed size wise. It’ll rise further when we’re developing.
Winenut
Go AVZ!
Last edited:
Skar
Regular
I thought this was one of our problems, the IGF exposes but does not prosecute/has no teeth to actually impose good governance. It can uncover and shine a light of corruption but cant actually hold our detractors to account, thats a different branch? (still playing catch up on DRC political workings).
Winenut
Go AVZ!
It's the police and the judiciary that have to act on the IGF report.
It becomes a legal process once the IGF presents it's findings
IGF can't be the judge, jury and executioner
Jules is very strong on that point
John25
Regular
Carlos Danger
Top 20
Based. We should keep close tabs on the candidates for next years election and build a dossier on their allegiances and likely outcomes for AVZ if they win. Probs worth creating a separate thread to make it easier to track @MoneyBags1348
MoneyBags1348
Top 20
Carlos Danger
Top 20
Jackals gonna jackal
9cardomaha
Regular
17% for punctuality and timeliness for the DRC. I think all the garbage coming from Cominiere right now is just grasping at straws; all we can do is wait and see now.
Who are these guys?
Simon Cong's grand kids, trying to make some pocket money, or is it the Boatman's deck hands??
Free shares from the Klaus/Simon/Jean-Felix team??
Do these guys believe in the stork story too??
FFS get real, before I start to vomit.
I might do a winenut and have a Jaraman from the Clare Valley. Fukit.
Mr Inappropriate
Regular
It’s pretty straightforward, right? They know they have massive legal exposure from shareholders around non-disclosure should the current issues not be resolved in AVZ’s favour.
JAG
Top 20
Carlos Danger
Top 20
Could it be as simple as the amount of insurance required is tied to our market cap?
Share price was around 4 or 5 times the previous year for most of 21/22 which is the same increase as the insurance premium and that fits with Nigel's 'the rise is because we’ve developed size wise' explanation
Either that or management or the insurer have increased it because they see risk
Carlos Danger
Top 20
Would a hypothetical non disclosure violation be covered under 'conduct involving a wilful breach of duty by the officers?'
If ASIC managed to prove that management intentionally or recklessly failed to disclose relevant information to the market then surely it wouldn't even be covered by this insurance
None of this matters unless the claims against the company are proven to have merit. It's just the desperate howls of a cornered jackal imo
Mr Inappropriate
Regular
Insurance is of course about transferring the consequences of a risk being realised to a third party (the insurer).
- Increased coverage and premiums associated with us having a bigger operation? Sure, but that would be more generalised insurance cover more so than coverage for directors.
- Increased coverage and premiums associated with us having a bigger market cap? In and of itself, not really. However…
- Increased coverage and premiums associated with shareholder actions arising from, say, non-disclosure leading to losses? Absolutely.
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