If I have read correctly Drake held 23,862,500 shares or CDIs on 24/4/2018 & 22,380,142 on 14/8/2019. They sold 1,482,358 during that period & the share price fell from $1.16 to $0.98 based on the weekly closes of those weeks. How many shares do they currently own?
Listing current directors - Love, Wall, Mclarty, Wright & Deurloo.
A question to be asked is "should a Drake nominee or two be added to the board now & should Mclarty & Wright step down now or wait for the A.G.M. for a vote"?
The alternative is for an E.G.M. to prematurely have a spill of directors. There would be a cost for the E.G.M. but would the result benefit the company more than the cost?
I believe the first proposal is the better of the two. By adding at least one Drake nominee now would tend to somewhat placate Faillace. Mclarty originally offered to go on the board for an initial period after losing Forman & Rouse but step down when a replacement was found. If that was his true intention, now would be the ideal time to do so.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)