Then, as shareholders will recall, there was an actual concern of a collapse within the monetary system around the globe. At the time there was a significant concern of mass insolvencies as access to credit had fully dried. The loans came with covenants which, whilst by no means breached, have been a relentless downside as the market in small company shares began declining in February 2007 and continued downwards until March 2009.
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The provision of administration, accounting and company secretarial duties is the accountability of Maitland Administration Services Limited. The Board assessed the Directors’ fees, following proper consideration of the position that particular person Directors fulfil in respect of Board and Committee obligations, the time committed to the Group’s affairs and remuneration levels generally inside the funding trust sector. Under the Articles of Association, one-third of Directors is required to retire by rotation at …