Wan, Peter Kam To 尹錦滔
Real Gold (0246): significant differences of opinion with departed INED
Company announcement, 25-Aug-2011
RGM wanted to produce the interim results and then conduct internal investigations. Mr Wan wanted to prioritise the latter. In our view, he was right, particularly because of the recent revelations of enormous unapproved loans to, and acquisitions from, the controlling shareholder during the half-year. Until the details of these transactions are determined, it would be difficult to produce a true and fair set of interim accounts.
Company announcement, 25-Aug-2011
RGM wanted to produce the interim results and then conduct internal investigations. Mr Wan wanted to prioritise the latter. In our view, he was right, particularly because of the recent revelations of enormous unapproved loans to, and acquisitions from, the controlling shareholder during the half-year. Until the details of these transactions are determined, it would be difficult to produce a true and fair set of interim accounts.
Peter Wan Kam To quits as Real Gold INED after 25 days
Company announcement, 21-Aug-2011
Real Gold has not yet published the reasons he gave for resigning, if any. This suggests that the former PwC partner expressed substantial concerns - otherwise the company would just have published them. His base fee was a generous HK$1.008m p.a. with a maximum of $1.68m, so this was probably not a question of money. And he wants to skip the 30-day notice period - there's a man in a hurry!
Company announcement, 21-Aug-2011
Real Gold has not yet published the reasons he gave for resigning, if any. This suggests that the former PwC partner expressed substantial concerns - otherwise the company would just have published them. His base fee was a generous HK$1.008m p.a. with a maximum of $1.68m, so this was probably not a question of money. And he wants to skip the 30-day notice period - there's a man in a hurry!
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