RHG censors board campaign

The board of RHG will not be supporting the election of a pair of activist investors to its ranks.

The two - Steve Johnson and Greg Hoffman, both principals of the investment newsletter The Intelligent Investor - disclosed the board's attitude in their blog, RHG Shareholder Action, yesterday.

The RHG board asked for, and received from Johnson and Hoffman, a document on how the pair would handle conflicts of interest, as well as CVs for themselves.

Writing in the blog they said that RHG's lawyers asserted that "the documents go well beyond addressing the specific requirements of the ASX Corporate Governance Principles and Recommendations".

In addition, the documents "in places transgress over into electioneering, which, as you know, is not permissible under the Advance Bank case."