Of course, a cornerstone investor is probably necessary.
It was addressed in "Option D: Cornerstone Investor" in slide 13/27 available at http://paperlinxpigs.files.wordpress.com/2013/06/fixing-paperlinx-20130606.pdf
The PaperlinX board recently deemed it necessary to engage highly paid investment bankers to state the opportunistic and unacceptable to clear thinking, rational & well organised hybrid holders.
Go figure; so many highly intelligent and highly paid people talking absolute rubbish.
This board has a lot to answer for, particularly to its constituency of ordinary shareholders.
To quote from an earlier post here, and hopefully in context:
“By ignoring our fiduciary obligations in relation to PXUPA holders, we continue to ignore our obligations to the ordinary shareholders and employees of the company”.
Moelis & Co is so well regarded, and influential, that earlier this year it arranged the sale of H J Heinz Company to Warren Buffet & others for USD 28 billion. See http://www.moelis.com/investment-banking/SitePages/select-transactions.aspx?aName=a634
But it cannot solve the problems at PaperlinX which has a market cap of circa AUD 30-35 million.
To Messrs Kaye, Barker and Price; why not accept your reality for what it is? UR stuffed.
Give me a call sometime. Go on, just pick up the telephone and be nice about your problem. I promise to be nice too.
SRS Price at posting:
5.2¢ Sentiment: None Disclosure: Not Held
