The Lion has been in self exile for a little while.
My sabbatical away from HC did me well. Nice sometimes just to tame your addication. HC is addictive make no mistake.
Anyway this whole saga with Hanlong is just so predictive about the way the Chinese do business and how they constantly think they are a law unto themselves with regards to foreign investment and the corporate governance laws in countries like Australia. The opportunty to turn a quick buck (often at the expense of others) is too much to resist.
For this very reason SDL appointed Fiona Harris to oversea the corporate governance side. Very good move to have this sort of advise. The board and employees have very strict rules regarding trading in company shares. That is the reason we needed to approve options so the board and employees could acquire some shares and not be cut out of the action that they were working so hard to achieve for shareholders like you and me. So we should be very mindful of supporting the board with incentive options because they just cannot buy and sell shares on the open market in the same way we can.
For my part this whole business could bare well for SDL. The board and employees have kept their noses clean looking forward to a much better prize to come. As an investor I would not be opposed to see some othet Chinese entitiy come in and acquire all of Hanlongs interest in SDL.
Anyway just another chapter in the SDL story.
Really looking forward to the next episode.
Go SDL and Go Australia.
Well done ASIC!!
SDL Price at posting:
40.0¢ Sentiment: Buy Disclosure: Held
