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AVZ dismisses director’s Congo jail sentence ahead of proxy stoush

Tom Richardson
Tom RichardsonJournalist

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Proxy adviser ISS says a three-year jail sentence handed to AVZ director Graeme Johnston in the Congo for alleged forgery of a share register should preclude him from being re-elected to the lithium explorer’s board.

Around 21,000 retail shareholders have been trapped in suspended AVZ shares since May 2022 at a paper valuation of nearly $2.7 billion, as its board fights for control of potentially the world’s largest lithium deposit, Manono, in the Democratic Republic of Congo.

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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com

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    Original URL: https://www.afr.com/markets/equity-markets/avz-dismisses-director-s-congo-jail-sentence-ahead-of-proxy-stoush-20231114-p5ejrx