WasteCo Group has announced a change in the status of Shane Edmond to independent director.
WasteCo said at the time of its reverse listing, Edmond was deemed a non-executive director due to his association with the vendor of the company's operating subsidiaries and his substantial shareholding.
However, the board now considers Edmond's personal shareholding interests, which still exceed 5%, do not compromise his independence.
This is because of the presence of other large shareholdings in the company with which he has no interest or association.
The company also appointed non-executive director James Redmayne to the audit committee to ensure compliance with NZX Listing Rule requirements, following the resignation of Angus Cooper.
WasteCo, based in Christchurch, is a South Island waste solution company that processes and diverts liquid and solid waste from landfill.
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