Noble chairman could have averted unpleasant AGM argument, says SIAS

But Elman wasn't dodging questions.

Noble Group's chairman Richard Elman could have averted an unpleasant argument that arose during its Annual General Meeting, the Securities Investors Association of Singapore (SIAS) stated.

SIAS President and CEO David Gerald noted that contrary to reports, Elman did not dodge questions regarding Iceberg Research. However, he could have prevented the exchange that followed his refusal to answer a question regarding Yancoal.

"In my view, the Chairman could have got his message that he would answer the Yan Coal question a little later, with a simple answer like 'Yes, I will certainly deal with the Yan Coal issue a little later, let’s finish the current discussion please'. That may have avoided the unpleasant situation that followed," Gerald noted.

“The shareholders, I find, were allowed to pose more than two questions, the limit set as part of the house rules. All questions I found were given full answers by the Chairman or the senior management except for the initial reluctance by the Chairman to deal with the question on Yan Coal at the time it was raised,” he added.