Corporate Governance

The Board of ACS No 1 Ltd comprises the Chairman, Paul Ainsworth, Mark Ainsworth and Alex Jamieson.

Whilst not obligated to display to the public information relating to the internal workings of ACS No. 1 Ltd, (as an unlisted public company), the Board of ACS # 1 Ltd recently made some necessary changes to the operations of its subsidiary partner, Lending Link Pty Ltd.

The Board last week accepted the resignation of Brian Barnard from both the Board of Directors of ACS # 1 Ltd and in his capacity as Managing Director of Lending Link.

The Board has also accepted the resignation of Tammy Djuric, administration manager and former ACS # 1 Ltd Board member.

Their departure from the business is regrettable however unavoidable given the ongoing consolidation in the financial markets and Lending Link’s requirement to further trim costs in line with reasonable revenue expectations.

As a major shareholder and Chairman of ACS # 1 Ltd, Paul Ainsworth has assumed operational responsibility for the business and its return to profitability.

This will be achieved with the ongoing support of Paul Lloyd, Julian Martin and Sally Dean. They have all not only embraced the changes made on the 5th December 2011 but have made it clear that they see a bright future for Lending Link.

As part of the changes made last week, the office has relocated to a shared facility with AJFP, a long standing and successful financial planning practice located in Prahran, Melbourne. Alex Jamieson is not only the principal of this practice but he also sits on the Board of ACS # 1 Ltd, providing both a shared interest in the success of Lending Link as a business as well as the opportunity to bring his expertise to the development of the Estate Planning business that lies at the heart of Lending Link’s differentiated income strategy.

Shareholders interested in obtaining specific information regarding the corporate governance of the company are encouraged to contact the company by phone on  +61 (3) 9095 8621.