Yes Haasko, maybe you should have sold? Maybe we all should have sold? Then how would we have rejected this low ball offer? The SoA gets up and we get no chance to buy back in. Regardless, I think there will be opportunities for shareholders with high average costs to average down.
You're right the SoA is now history but I disagree with you on a couple of fronts;
The votes FOR the Scheme do not necessarily reflect confidence in the board. It was soley a money now driven thing by those who could profit (e.g. Troy Harry) plus those sick of waiting. A 249D may or may not produce a similar outcome? One thing's for sure, the board has lost credibility and trust amongst hundreds of shareholders, even some of the FOR voters I suspect? The 249D, win or lose is a nuclear warhead out of which there will be no real winners. If the board stays, it will be a hollow victory, no clear mandate and may even be a "hung" board?
Remember one thing, they started it!
The current board is also not in touch with the broader shareholder base, those mums and dads Richard Cottee prides himself on communicating with.
At the SoA meeting RC answered the question from the floor "what about plan B" by launching into one of his metaphorical oratories talking about slavery being abolished in 1833. Meaning I think he was not going to stay if he didn't want to. One of his problems is his communication skills are actually quite poor and unprofessional if you ask me. He also seems to flip flop as it suits.
Chairman Hubbard said he would "do it all again" which I assume is the attitude of the board?
How can we leave these insecure trigger happy people in charge of our company?
Denny Crane!
CTP Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
