Excellent outcome. And unambiguous. I would like the new board to establish/clarify four things:
Why did the company conclude that the value to shareholders, of the cybersecurity assets, was better realised through an asset sale than through a continuation of the acquisition and organic growth strategy of recent preceding years? Such a sudden change without adequate explanation.
Did we get fair value for the cybersecurity sale? And in assessing this, I would like to understand whether there were any actions (or deliberate inactions) taken by former directors and/or senior employees in the 6-12 months preceding the sale, that are likely to have adversely affected the value?
What is the true value of our stake in TSI? Not an accounting value based on all owners seeking an exit from a self-funded business...but an insight into the potential value of TSI with an ownership invested in growing that business (should the case exist).
What is the strategy of/for VOR? Is there one beyond either TSI divestment / investment?
All in good time of course....but not at the snail pace and opacity of communication established by Mr Lai at every single stage of his unfortunate stewardship.
VOR Price at posting:
14.5¢ Sentiment: Hold Disclosure: Held
