I keep churning through the PO3 story since first discovering it, and the same questions keeps reverberating through my mind - Why now?
Why did they consolidate when they did?
Why did they raise money when they did?
Everything this company does has been methodically thought through for the benefit of the company, and ultimately its shareholders.
Which brings us to the latest iteration of the question:
Why were these board changes enacted now?
To coincide with the OTC? Possibly; but I doubt it.
I'm not a conspiracy theorist, however there is a bigger game afoot and BP has his finger prints all over it.
If I'm not mistaken, I remember reading somewhere that inviCRO was acquired for about USD270m 3 years after BP became involved. This was probably considered a failure by BP's lofty standards.
The fact is that with BP assuming the Chairman position at PO3, it marks his return to public corporate life.
He's back out there and I dare say he has a point to prove.
He wouldn't have invested in and joined the board of PO3 if he didn't see multi-billion dollar potential.
He is now more deeply entrenched and his every move will be monitored.
And to think that the company only put on AUD30m of cap on the back of this report.
BP becoming Chairman is worth multiples of AUD30m IMHO and throw in CLS and an eminent scientist for good measure and today's market response was rather demure.
And all of this for no remuneration.
We all know that timing is everything, so once again, Why now?
I don't think we'll have to wait very long to discover why.
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