Personally, as per my email to Andrew, I am wanting to see more information about the past experiences and achievements of the ODN board before I can make any decision on this matter. If you had read my postings on the VPE board, you'd know that I have been one of the most outspoken advocates for the sacking of the current board. However, it's important that the replacement - whoever that may be - must be of better quality than the useless bunch that we have got right now. In addition, even with their stake increasing to 10% today, I think it's a bit much to seek control of the board. I'm fine with ditching the entire board, with one representative from ODN (unless they increase their VPE stake). To seek control of a company based on 10% holding smells of opportunistic at best.
If ODN management is serious about it, why don't they just buy up to 20% and then launch a bidder's statement? It's one thing holding a 10% passive, but strategic, stake. It's another wanting to assume full control based on the 10% stake.
The other point I made to Andrew was that I am totally gobsmacked as to why he would want to retain JK as the MD? Afterall, he is the main culprit behind the abysmal performance of VPE despite having such great asset. This stinks of an inside deal to me (Andrew and JK are supposedly quite close).
Just my thoughts of course...
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