I suspect Ru555 is probably working in AMA or has worked in AMA and is disgruntled with his treatment.
There is no business where all the employees are happy!
The facts of the matter are; The CEO went to court so that the Board cannot sack him. He has argued that it oppression of a minority shareholder. The board has stated that they have engaged a forensic account for several months to investigate a whistleblower accusation. It is obvious that the investigation has come up with something that has forced the board to exit the CEO. The board has clearly stated that the underlying business units are performing better than expected! There is no hint of fraud, there is no mention of financial inconsistencies. This matter is purely about exiting the CEO, for what reason we are unsure. If the CEO is using the excuse of oppression on minority shareholder it may be a disagreement at the board level, ie board could be looking at raising more equity to reduce debt but the CEO doesn't want to be diluted? The board and CEO could have fallen apart and as a result the board are trying anything possible to rid themselves of the CEO.
My person view is that the SP was oversold yesterday to the point where I picked up a further 80,000 shares.
Until the matter is cleared I suspect the SP will be volatile. (My view, people spreading stories at the pub are more often then not providing a story to fill the lack of knowledge they have with whats happening at higher levels in an organisation)
AMA Price at posting:
63.5¢ Sentiment: Buy Disclosure: Held
