Immediate Independent Inquiry Governance Changes to Follow Without Delay I’ve been asked to justify the idea of having an investigation into Nominet’s recent business activity. My primary focus is on the reported loss of $23.5 million in two and a half years on CyGlass. The CyGlass loss absolutely endorses the EGM called by Simon Blackler. … Continue reading Why Investigate CyGlass?
$6 million – CyGlass Purchase Price in February 2020 $1 – Cost to CyGlass management of MBO July 2022 $23.5 million – Estimated Total Loss to Nominet in 2 ½ years CyGlass marks the low water mark of the former Nominet board’s disastrous escapades into the commercial sector. Costing $6 million in February 2020, it… Continue reading CyGlass Scandal Independent Inquiry Urgently Needed into $23.5 Million Loss
It looks to me like Nominet directors paid off Russell Haworth at a cost of £300,000 of company money, so that they could use his departure to try to buy off the threat to their jobs. If that’s right, at a minimum that would be a gross breach of directors duty. I’ve been trying to… Continue reading Putting the Nominet Haworth Jigsaw Together
And Why Did Nominet Give Up Its Biggest Weapon In the Negotiations With Him? The short answer is Nominet’s then board needed Haworth gone before the EGM, so that they could use his departure to try to cancel the EGM or otherwise influence the outcome. That included Mark Wood quite brazenly trying to stop the… Continue reading Why did Nominet pay for Russell Haworth to resign before the EGM?
Questions For Nominet About Russell Haworth’s £300,000 Payout and the Secret Side Letter the Nominet Directors Signed 2 Days Before he Resigned Two days before Russell Haworth resigned with a payout of around £300,000, Nominet gave up the right to remove him without pay if he was removed at the EGM. I can’t see… Continue reading Why did Nominet sign a secret letter with Russell Haworth?