a bit of research data.
RM joined the BOD when the UK price was 10.97p a share. this was July 2009.
After 5 years at the crease, the UK price remained art 10.97p. Obviously a lot of fluctuations, these are spot prices.
Since July 2014, the sp has dropped to 0.4p
This doesn't sound like much of a contribution over the years. Also, note that the non exec directors were being paid $80k a year to attend 12 meetings. that's $6.6k a day. not a bad salary and significantly above the norm.
When Brad left Drillsearch, the Drillsearch BOD said that Brad was great at building the business and was not suited to operating the business. I wonder if he has picked up some skills? If RM did the DD on Brad, is he just a yes man?
My guess is that Brad will replace RM, because RM needs a face saving exit as quickly as possible. My guess is that he will take a new role as executive consultant on a big day rate, working one or two days a week. This takes him away from the front line, but gives him the opportunity to line his pockets. It's too hard for him to break the habits of the past.
OEX Price at posting:
0.8¢ Sentiment: None Disclosure: Not Held
