Tuesday 15th February 2011 - Evening edition!

Dear Reader,

Now it is time for you to get involved. Your voting PIN is at the top of this e-mail.

The three wise monkeys of HK boards
SEHK has proposed minor reforms to the composition of boards which completely miss the core issue - INEDs are only as independent and competent as the controlling shareholder wants them to be, as long as he or it votes on the INED elections. We call for independent directors to be independently-elected. Tell us what you think!. Read our article and then take our poll on INEDs. (15-Feb-2011)

Prudential's de facto delisting
We look at the evaporating puddle of liquidity in the dual-primary HK listing of Prudential Plc, now down to 0.08% of the company. 95% of it has drained away since last year's listing. Meanwhile, the much-trumpeted secondary listing of Brazilian iron ore giant Vale has almost dried up too, now down to 0.02% of the company. (15-Feb-2011)

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