BIS Review 64/2007  1  We have however monitored the developments closely since our last decision, and hereby wish to update the public on the developments regarding our current stance as follows: Decisions: 1.
Initially, we decided to give the legacy groups of shareholders a chance to nominate some members of the Board, and the legacy bank with the highest shareholders’ fund – Guardian Express – to produce the MD. From the acrimonious public pronouncements of the various camps, it is evident that we can’t rely upon the reconstituted Board drawn from the legacy groups to move forward.