New Risk • Jul 31
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 53% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (29% average weekly change). Shareholders have been substantially diluted in the past year (53% increase in shares outstanding). Minor Risks Revenue is less than US$5m (AU$1.9m revenue, or US$1.3m). Market cap is less than US$100m (AU$56.5m market cap, or US$39.7m). Announcement • Jul 25
Janus Electric Holdings Limited has filed a Follow-on Equity Offering in the amount of AUD 7.76 million. Janus Electric Holdings Limited has filed a Follow-on Equity Offering in the amount of AUD 7.76 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 32,333,333
Price\Range: AUD 0.24
Discount Per Security: AUD 0.0144
Transaction Features: Subsequent Direct Listing Announcement • Jul 02
Janus Electric Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 4.7465 million. Janus Electric Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 4.7465 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 26,450,000
Price\Range: AUD 0.17
Discount Per Security: AUD 0.0102
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,470,588
Price\Range: AUD 0.17
Discount Per Security: AUD 0.0102
Transaction Features: Subsequent Direct Listing New Risk • Jun 16
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 24% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (19% average weekly change). Minor Risks Shareholders have been diluted in the past year (24% increase in shares outstanding). Revenue is less than US$5m (AU$1.9m revenue, or US$1.4m). Market cap is less than US$100m (AU$20.3m market cap, or US$14.3m). Announcement • Jun 16
Janus Electric Holdings Limited Announces Management Changes Janus Electric Holdings Limited had appointed Ms. Zorana Bull as Senior Advisor to the Board. Ms. Bull is an Oxford-educated engineer and experienced professional director with deep expertise in transport, infrastructure, engineering and the public sector. She is a former Global Partner and Australian Chief Operating Officer at PA Consulting Group, and is currently a Non-Executive Director of TasPorts, Jet Travel Australia Pty Ltd. and HealthShare NSW and is managing partner at Altura Partners. Ms. Bull has served on a number of commercial boards across Federal and State Government and the private sector, with experience spanning ports, transport infrastructure and logistics operators. The company appointed Ms. Brooke Ditzler as Chief Operating Officer, effective June 22, 2026. Ms. Ditzler is an enterprise transformation and people strategy executive with deep experience building and scaling businesses across complex, multi-jurisdictional environments. Ms. Ditzler brings more than 15 years of senior leadership experience, including seven years at Amazon across Europe, the Middle East, Africa and North America, where she led organisational scaling through periods of rapid growth, multiple M&A integrations and new country launches. Most recently, she led a large-scale enterprise transformation programme for a major manufacturing organisation. Earlier in her career, she held roles at Accenture, Oakley and Specialized Bicycle Components. Ms. Ditzler holds an Executive MBA from Northwestern University’s Kellogg School of Management. The company confirmed that Mr. Lex Forsyth would transition from his role as COO to focus on business development across Australia and North America. Mr. Forsyth brings 50 years of family heritage in heavy trucking, was the driving force behind Janus Electric's founding technology, and led the deployment of Australia's first solar-powered Charge & Change Station. His deep relationships across the Australian and North American freight sectors, and his hands-on knowledge of the Janus platform in the field, uniquely position him to accelerate fleet operator engagement and partnership development as the Company continues to build its commercial pipeline. Breakeven Date Change • May 20
Forecast to breakeven in 2027 The analyst covering Janus Electric Holdings expects the company to break even for the first time. New forecast suggests the company will make a profit of AU$3.00m in 2027. Average annual earnings growth of 128% is required to achieve expected profit on schedule. Announcement • May 08
Janus Electric Holdings Limited has filed a Follow-on Equity Offering in the amount of AUD 4.7465 million. Janus Electric Holdings Limited has filed a Follow-on Equity Offering in the amount of AUD 4.7465 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 26,450,000
Price\Range: AUD 0.17
Discount Per Security: AUD 0.0102
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,470,588
Price\Range: AUD 0.17
Discount Per Security: AUD 0.0102
Transaction Features: Subsequent Direct Listing Board Change • May 01
Less than half of directors are independent There are 3 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Non-Executive Chairman Tony Fay is the most experienced director on the board, commencing their role in 2025. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Announcement • Jan 14
Janus Electric Holdings Limited Announces Board Changes, effective January 14, 2026 Janus Electric Holdings Limited announced changes to its Board of Directors, effective January 14, 2026 . Mr. Dennis Lin resigned as Chairman and Director, and Ms. Kristy Carr resigned as Non-Executive Director following their acceptance of executive leadership roles at a US-based company; the extensive travel commitments of these new positions preclude them from dedicating the necessary time to Janus Electric going forward. The Board appointed Mr. Tony Fay as Chairman of Janus Electric. Mr. Fay previously served as a Non-Executive Director and Chairman of the Janus Audit and Risk Committee. Tony Fay is an experienced financial markets professional with over 30 years of leadership in derivative broking businesses, and has been involved with Janus Electric since 2021. Most recently as a Non-Executive Director and Chairman of the Janus Audit and Risk Committee. Tony has held several Managing Director and CEO positions and worked with leading investment banks and brokerage firms. He played a pivotal role in establishing the Agricultural Derivatives markets in Australia and maintains a diverse investment portfolio spanning start-up ventures and listed equities. His governance experience includes serving as Chairman of Raiz Invest Ltd. (ASX:RZI) from 2018 to 2020. Janus Electric also welcomed Mr. Saurabh Jain as a Non-Executive Director. Saurabh Jain is an experienced technology and SaaS executive with a strong track record in commercialisation and business transformation. Starting his career as a software developer, he founded and scaled a startup to over 2,500 customers before its successful sale to Telstra. He later held senior leadership roles, including CEO and Executive Director of Urbanise (ASX: UBN), and has served on ASX-listed, private, and for-purpose boards. Saurabh holds an undergraduate degree and two master’s degrees, is a member of the Australian Institute of Company Directors, and is passionate about leveraging technology to drive organisational change and efficiency. Following these changes, the Janus Electric Board comprises Mr. Tony Fay – Non–Executive Chairman, Mr. Saurabh Jain – Non-Executive Director, and Ben Hutt – Managing Director. Ben Hutt is an accomplished executive with over 20 years of experience in technology, energy, and capital markets. He most recently served as CEO of Evergen, where he scaled the business from a startup to a leading energy SaaS platform, culminating in its acquisition by Intellihub in 2023. Ben previously led Search Party Group through its ASX listing and international expansion and held senior roles at Macquarie Group during the Global Financial Crisis. He holds an MBA from the Australian Graduate School of Management and a BSc (Hons) from the University of Leeds. Outside of work, Ben is an endurance athlete and a solo English Channel swimmer. Board Change • Dec 24
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Non-Executive Director Tony Fay is the most experienced director on the board, commencing their role in 2025. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Nov 20
An undisclosed buyer proposed to acquire an unknown minority stake in Battery Graphene Corp Pty Ltd from Janus Electric Holdings Limited (ASX:JNS). An undisclosed buyer proposed to acquire an unknown minority stake in Battery Graphene Corp Pty Ltd from Janus Electric Holdings Limited (ASX:JNS) subsequent to year-ended June 30, 2025. Announcement • Oct 29
Janus Electric Holdings Limited, Annual General Meeting, Nov 28, 2025 Janus Electric Holdings Limited, Annual General Meeting, Nov 28, 2025. Location: thomson geer, level 14, 60 martin place, sydney nsw 2000 Australia Announcement • Sep 30
Janus Electric Holdings Limited has filed a Follow-on Equity Offering in the amount of AUD 5 million. Janus Electric Holdings Limited has filed a Follow-on Equity Offering in the amount of AUD 5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 17,500,000
Price\Range: AUD 0.2
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 7,500,000
Price\Range: AUD 0.2
Transaction Features: Subsequent Direct Listing New Risk • Aug 30
New major risk - Revenue and earnings growth Earnings have declined by 38% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 38% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 31x increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (19% average weekly change). Market cap is less than US$100m (AU$15.8m market cap, or US$10.3m). Breakeven Date Change • Aug 18
Forecast to breakeven in 2027 The analyst covering Janus Electric Holdings expects the company to break even for the first time. New forecast suggests the company will make a profit of AU$800.0k in 2027. Average annual earnings growth of 87% is required to achieve expected profit on schedule. Announcement • May 28
Janus Electric Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 0.545 million. Janus Electric Holdings Limited has completed a Follow-on Equity Offering in the amount of AUD 0.545 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 684,358
Price\Range: AUD 0.179
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 38,000,000
Price\Range: AUD 0.001
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 16,666,667
Price\Range: AUD 0.006
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 34,500,000
Price\Range: AUD 0.005
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 40,000,000
Price\Range: AUD 0.0009
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 41,111,111
Price\Range: AUD 0.0009
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 43,333,333
Price\Range: AUD 0.0009
Transaction Features: Subsequent Direct Listing Announcement • May 14
Janus Electric Holdings Limited (ASX : JNS) acquired Janus Electric Limited. ReNu Energy Limited (ASX:RNE) entered into a share purchase agreement to acquire Janus Electric Limited on February 19, 2025. The consideration consists of 50 million common equity of ReNu Energy Limited to be issued for common equity of Janus Electric Limited. As part of consideration, an undisclosed value is paid towards common equity of Janus Electric Limited. Upon the completion of the Proposed Acquisition, it is proposed that all current Directors will stand down, and ReNu Energy will introduce four new members to the Board. Additionally, Lex Forsyth, the current Managing Director of Janus, is proposed to be appointed as Chief Operating Officer. Greg Watson, who is presently the Managing Director of ReNu Energy, is proposed to transition to the role of Chief Financial Officer and Company Secretary.
The transaction is subject to approval by regulatory board / committee, approval of offer by acquirer shareholders and listing / approval of new shares on stock exchange. The expected completion of the transaction is April 1, 2025 to April 30, 2025.
Janus Electric Holdings Limited received approval from its shareholders during the General Meeting held on March 28, 2025, all necessary conditions for the completion of the share purchase agreement have been met. The completion of the Share Purchase Agreement has now taken place.
Janus Electric Holdings Limited (ASX : JNS) completed the acquisition of Janus Electric Limited on May 14, 2025. Announcement • Apr 05
The management of ReNu Energy Limited completed the acquisition of Countrywide Renewable Hydrogen Limited from ReNu Energy Limited (ASX:RNE) in a management buyout transaction. The management of ReNu Energy Limited signed a letter of intent to acquire Countrywide Renewable Hydrogen Limited from ReNu Energy Limited (ASX:RNE) in a management buyout transaction for AUD 0.75 million on October 14, 2024. Sale agreement was signed on February 6, 2025. A cash consideration of AUD 0.25 million will be paid by the buyer. The buyer will pay an earnout/contingent payment of AUD 0.1 million cash. As part of consideration, AUD 0.35 million is paid towards common equity of Countrywide Renewable Hydrogen Limited. The transaction is subject to approval of shareholders of ReNu Energy Limited. At the shareholders meeting held on March 28, 2025 the transaction has been approved by the shareholders of ReNu Energy Limited. The transaction is expected to be completed in March 2025.
The management of ReNu Energy Limited completed the acquisition of Countrywide Renewable Hydrogen Limited from ReNu Energy Limited (ASX:RNE) in a management buyout transaction on April 4, 2025. Announcement • Feb 27
ReNu Energy Limited has filed a Follow-on Equity Offering. ReNu Energy Limited has filed a Follow-on Equity Offering.
Security Name: Ordinary Shares
Security Type: Common Stock
Transaction Features: Subsequent Direct Listing Announcement • Feb 19
ReNu Energy Limited (ASX:RNE) entered into a share purchase agreement to acquire Janus Electric Limited. ReNu Energy Limited (ASX:RNE) entered into a share purchase agreement to acquire Janus Electric Limited on February 19, 2025. The consideration consists of 50 million common equity of ReNu Energy Limited to be issued for common equity of Janus Electric Limited. As part of consideration, an undisclosed value is paid towards common equity of Janus Electric Limited. Upon the completion of the Proposed Acquisition, it is proposed that all current Directors will stand down, and ReNu Energy will introduce four new members to the Board. Additionally, Lex Forsyth, the current Managing Director of Janus, is proposed to be appointed as Chief Operating Officer. Greg Watson, who is presently the Managing Director of ReNu Energy, is proposed to transition to the role of Chief Financial Officer and Company Secretary.
The transaction is subject to approval by regulatory board / committee, approval of offer by acquirer shareholders and listing / approval of new shares on stock exchange. The expected completion of the transaction is April 1, 2025 to April 30, 2025. Announcement • Feb 06
The management of ReNu Energy Limited signed a letter of intent to acquire Countrywide Renewable Hydrogen Limited from ReNu Energy Limited (ASX:RNE) in a management buyout transaction for AUD 0.75 million. The management of ReNu Energy Limited signed a letter of intent to acquire Countrywide Renewable Hydrogen Limited from ReNu Energy Limited (ASX:RNE) in a management buyout transaction for AUD 0.75 million on October 14, 2024. Sale agreement was signed on February 6, 2025. A cash consideration of AUD 0.25 million will be paid by the buyer. The buyer will pay an earnout/contingent payment of AUD 0.1 million cash. As part of consideration, AUD 0.35 million is paid towards common equity of Countrywide Renewable Hydrogen Limited. The transaction is subject to approval of shareholders of ReNu Energy Limited. The transaction is expected to be completed in March 2025. Announcement • Oct 29
ReNu Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 0.395 million. ReNu Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 0.395 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 395,000,000
Price\Range: AUD 0.001
Discount Per Security: AUD 0.00006
Transaction Features: Subsequent Direct Listing Announcement • Oct 25
ReNu Energy Limited, Annual General Meeting, Nov 28, 2024 ReNu Energy Limited, Annual General Meeting, Nov 28, 2024. Location: level 2, 52 mcdougall street, milton qld 4064 Australia Announcement • Sep 05
ReNu Energy Limited Announces Board and Executive Changes ReNu Energy also announced changes to Board and Executive roles as part of the Company's Corporate Execution Plan (CEP) to deliver Australia's first end-to-end hydrogen transport ecosystem through its Tasmanian green hydrogen project: Hydrogen HyWay#1. Mr. Greg Watson has been appointed to the Board as Managing Director of the Company effective 2 September 2024. Mr. Watson will retain the role of Chief Executive Officer and Company Secretary. Mr. Geoffrey Drucker has stepped down as Executive Director effective 2 September 2024 to allow him to focus solely on his role as Managing Director of Countrywide. Announcement • Sep 03
ReNu Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 0.395 million. ReNu Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 0.395 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 395,000,000
Price\Range: AUD 0.001
Discount Per Security: AUD 0.00006
Transaction Features: Subsequent Direct Listing New Risk • Mar 01
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$3.6m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.6m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Shareholders have been substantially diluted in the past year (53% increase in shares outstanding). Revenue is less than US$1m (AU$374k revenue, or US$243k). Market cap is less than US$10m (AU$7.42m market cap, or US$4.83m). Announcement • Dec 23
ReNu Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 0.5 million. ReNu Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 0.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 45,454,546
Price\Range: AUD 0.011
Discount Per Security: AUD 0.00066
Transaction Features: Subsequent Direct Listing New Risk • Dec 16
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (23% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (AU$7.06m market cap, or US$4.74m). Minor Risk Shareholders have been diluted in the past year (15% increase in shares outstanding). Announcement • Dec 11
ReNu Energy Limited has filed a Follow-on Equity Offering. ReNu Energy Limited has filed a Follow-on Equity Offering.
Security Name: Ordinary Shares
Security Type: Common Stock
Transaction Features: Subsequent Direct Listing Announcement • Nov 23
ReNu Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 2.000967 million. ReNu Energy Limited has filed a Follow-on Equity Offering in the amount of AUD 2.000967 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 181,906,130
Price\Range: AUD 0.011
Transaction Features: Rights Offering Announcement • Oct 12
ReNu Energy Limited, Annual General Meeting, Nov 30, 2023 ReNu Energy Limited, Annual General Meeting, Nov 30, 2023. New Risk • Aug 31
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Revenue is less than US$1m (AU$90k revenue, or US$58k). Market cap is less than US$10m (AU$13.7m market cap, or US$8.85m). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Shareholders have been diluted in the past year (21% increase in shares outstanding). New Risk • Jul 29
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 16% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Revenue is less than US$1m (AU$90k revenue, or US$60k). Minor Risks Shareholders have been diluted in the past year (21% increase in shares outstanding). Market cap is less than US$100m (AU$19.4m market cap, or US$12.9m). New Risk • Jun 20
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.1m (US$9.65m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Revenue is less than US$1m (AU$90k revenue, or US$62k). Market cap is less than US$10m (AU$14.1m market cap, or US$9.65m). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (21% increase in shares outstanding). New Risk • Jun 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m (AU$90k revenue, or US$60k). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (21% increase in shares outstanding). Market cap is less than US$100m (AU$16.3m market cap, or US$10.9m). Board Change • Nov 17
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. 2 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Non-Executive Director Tony Louka is the most experienced director on the board, commencing their role in 2018. Independent Non-Executive Chairman Boyd White was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Board Change • Aug 15
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. 2 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Non-Executive Director Tony Louka is the most experienced director on the board, commencing their role in 2018. Independent Non-Executive Chairman Boyd White was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. 
