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This appointment must be very good news. It is likely that the new Shareholders requested the appointment of a real independent chairman with considerable experience. Jimmy´s point on share options may or may not be true. However if the same options are awarded to the new Non executive director that were offered a short while back to the rest of the Board i.e. 45 cents a share) as these are well out of the money at present, I do not think awarding such options at present to the new non-executive chairman would be considered insider trading even if a deal on Barryroe were in the offing. So this must be good news for the company. Maybe Tullow might become a partner for Providence.
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