Wal King re-elected to Ausdrill board

FORMER Leighton boss Wal King has been re-elected to the board of mining services company Ausdrill, despite a sizeable protest vote.

At Ausdrill's annual general meeting on Thursday, about 22 per cent of shareholder votes went against Mr King serving another term as a non-executive director.

Mr King has been implicated in allegations of corruption at Leighton.

He denies the allegations and has launched a defamation case against Fairfax Media.

Before the vote was held at Ausdrill's meeting, chairman Terence O'Connor said Mr King has strenuously denied ever approving bribes when he was at Leighton, or any other wrongdoing.

Mr King has also told the board he has never been spoken to by the Australian Federal Police or Australian Securities and Investments Commission, Mr O'Connor said.

"For these reasons the board saw no reason to change its recommendation for the re-election of Wal King as a director merely because of unsubstantiated reports in the press," he said.

The company's managing director Ron Sayers was recently accused of a conspiracy to defraud the Commonwealth involving trusts through which he co-owned Barminco, an underground mining contractor.

A trial ended in a hung jury, and Ausdrill has maintained Mr Sayers is fit to remain as the company's managing director.

"The board has full confidence in Ron and wishes him to continue in his role as managing director of Ausdrill," Mr O'Connor said.

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