{"id":37054,"date":"2012-10-22T08:40:19","date_gmt":"2012-10-22T15:40:19","guid":{"rendered":"http:\/\/www.boardistan.com\/?p=37054"},"modified":"2012-10-22T09:27:47","modified_gmt":"2012-10-22T16:27:47","slug":"merchant-gets-retraction-from-asa","status":"publish","type":"post","link":"http:\/\/www.boardistan.com\/?p=37054","title":{"rendered":"Merchant Gets Retraction From ASA"},"content":{"rendered":"<p><a onclick=\"window.open('http:\/\/www.boardistan.com\/wp-content\/uploads\/2012\/10\/merchant-20121022211624868524-300x0.jpg','popup','width=300,height=200,scrollbars=no,resizable=yes,toolbar=no,directories=no,location=no,menubar=no,status=yes,left=0,top=0');return false\" href=\"http:\/\/www.boardistan.com\/wp-content\/uploads\/2012\/10\/merchant-20121022211624868524-300x0.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.boardistan.com\/wp-content\/uploads\/2012\/10\/merchant-20121022211624868524-300x0-tm.jpg\" alt=\"Merchant-20121022211624868524-300X0\" width=\"200\" height=\"133\" align=\"right\" border=\"1\" hspace=\"4\" vspace=\"4\" \/><\/a>The <strong><a href=\"http:\/\/australianshareholders.com.au\/asa_site\/\" target=\"_blank\">Australian Shareholders Association<\/a><\/strong> was forced to take back a few things it said about why <strong><a href=\"http:\/\/www.billabong.com\/\" target=\"_blank\">Billabong<\/a><\/strong> founder <strong>Gordon Merchant <\/strong>and <strong>Colette Paull <\/strong>should be voted off the board after Billabong&#8217;s largest shareholder had lawyers contact the ASA, according to a story in the <strong><em><a href=\"http:\/\/www.smh.com.au\/business\/asa-retracts-billabong-comments-20121022-281dg.html\" target=\"_blank\">Sydney Morning Herald<\/a><\/em><\/strong>.<\/p>\n<blockquote><p>The ASA has now said: &#8221;It was not correct for the ASA to state that Mr Merchant &#8216;effectively prevented&#8217; the board from &#8216;accepting an offer of $3.30&#8217;.&#8221; . . It also accepts that the board made a unanimous decision not to allow due diligence by TPG when it made a $3.30 a share indicative offer and said: &#8221;It is incorrect for the ASA to suggest that Mr Merchant should have known of any &#8216;perilous financial position&#8221;&#8217; before his decision to reject the original offer in February.<\/p><\/blockquote>\n<p>With those retractions the ASA still believes Merchant and Colette Paull should be removed from the board for the good of the company.<\/p>\n<p><strong>[Link: <\/strong><strong><a href=\"http:\/\/www.smh.com.au\/business\/asa-retracts-billabong-comments-20121022-281dg.html\" target=\"_blank\">Sydney Morning Herald<\/a><\/strong><strong>]<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Australian Shareholders Association was forced to take back a few things it said about why Billabong founder Gordon Merchant and Colette Paull should be voted off the board after Billabong&#8217;s largest shareholder had lawyers contact the ASA, according to a story in the Sydney Morning Herald. The ASA has now said: &#8221;It was not [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[10,12],"tags":[],"_links":{"self":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts\/37054"}],"collection":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=37054"}],"version-history":[{"count":4,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts\/37054\/revisions"}],"predecessor-version":[{"id":37060,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts\/37054\/revisions\/37060"}],"wp:attachment":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37054"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}