Interesting to note the Board of BGN has heard of the old 3 envelope routine:
When assuming a new executive position (Peter Hart became Chairman on 15 July) the Board hands you three envelopes.
You are intructed to open the 1st if the companies share price has not improved within a week of assuming the job - inside is a note reading "blame your predecessor"
If things still have not improved after another two weeks you open the second, it contains a note saying "restructure"
If after another month the share price is still heading south you are instructed to open the third envelope. This one contains a note saying "write three new envelopes"
After todays announcement by BGN of a restructure I reckon Hart must have only one month left? LOL
BGN
bresagen limited
