CI1 General discussion, page-3711

I was having a think last night about the ownership situation. There's clearly some good assets in this business, and it has growth potential. If I had the choice I would prefer a whole new board and management team however. With what the CEO is currently getting paid, this business could attract some major talent. Even at 50% of what he's being paid we could land a great CEO I think. I don't want the board buying more shares as others have suggested. I would prefer to see an activist shareholder or fund come in and snap up 15-30% of the company and agitate for a board spill and then appoint a new CEO. I think that is actually where we could extract real value from this company. However no fund is going to sink decent money into this company just to be a passive holder. There's just too much risk. So I don't think we will get institutional backing without either a new board and management team, or as a gambit to take control of the board and management team. There are enough disgruntled holders that a push for a board spill would actually get a lot of support. Especially if a compelling alternative is put forward, and the idea is backed by a reputable fund. Just my thoughts.