We don't disagree. The question is how much effort is one prepared to put into the turnaround?
My plan is transparent:
A/ Bring together the PXUPA Holders. This has been done with suX, PIGS and now the Investor Committee with the RE.
B/ Change the culture through changing the the senior management - a WIP with just two more ducks to drop.
C/ Assist the new management wherever possible - I talk to Price but am not wedded to him (Mary is).
The two challenges are:
1/ Turning around the business which is complicated by people's egos and nothing else; and
2/ Fixing the capital structure which is a pragmatic financial matter. Here, PPX hold the votes and PXUPA hold the preference, plus a few more bullets yet to be fired.
Something will crack very soon, well before the AGM. I detail this in the recent post on suX - New CEO?
There will be a day sometime before the AGM when PPX & PXUPA are both good speculative buys.
What many people think is that the board will right their own wrongs without pressure. Pressure needs effort.
Pretty simple really!
SRS Price at posting:
4.4¢ Sentiment: None Disclosure: Not Held
