Sharechat Logo

Director resigns from Smartshares

Thursday 8th April 2010 2 Comments

Text too small?

Damas Potoi has resigned from his position as a director of the board of directors of Smartshares Limited.

The board would like to thank Potoi for his valued service.

Garth Kevin Taylor has been appointed as a director in his place.

Smartshares  manages five exchange-traded funds under the Smartshares brand: SmartFONZ (NZX 50 Portfolio Fund), SmartTENZ (NZX 10 Fund), SmartMIDZ (NZX MidCap Index Fund), SmartMOZY (NZX Australian MidCap Index Fund) and SmartOZZY (NZX 20 Australian Leaders Index Fund).

 

  General Finance Advertising    

Comments from our readers

On 14 October 2010 at 1:03 pm Jay Donald Mann said:
Smartshares is beginning a "securities lending program" with, I think, dubious consequences. A third party can "borrow" shares (e.g., Telecom), promising to reimburse Smarthares for all dividends etc. So why borrow? The only reason I can think of is for ammunition in a battle to control the company. Is it appropriate to contribute ammunition in a control battle?
On 25 October 2010 at 11:17 pm Derek Reeves said:
Furthermore, after listing all the potential risks, the notice to unit holders states " The manager will be entitled to receive fees...>The amount of the fees received by the manager will be upto 50% of the net revenues payable to the relevant Fund in respect of the securities of that Fund lent" Wow ..Fund investors take the risk and the Managers takes 50% of tne net revenue !
Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Telecom will offer CEO and senior managers performance equity grants to boost profits
Former Fonterra executive Alison Andrew appointed to head Transpower
MRP director Miller, CFO Meek go trawling for cheap shares
Rob Fyfe to leave Trilogy board, seeks new senior role in NZ
David Ross appears at District Court hearing, remanded until Aug.29
Crown drops charge against ex-SCF finance chief Graeme Brown
Postie Plus appoints No 1 Shoes executive Binns as new CEO
Pumpkin Patch CEO Neil Cowie resigns to take job with rival retailer
George Alexander Louis
Time to Move Before You Get Caught in the Meridian Watershed

IRG See IRG research reports