Not sure what they mean by "regulatory look-through provisions pertaining to international subsidiaries wholly owned by EML" but the fact that Alta Fox released a notice indicating they have no intention to sell further and continue to support EML growth gives a degree of comfort.
Having said that, there is no guarantee that having them on the board or as shareholders will make a huge deal of difference to most shareholders who are likely in the red, but at least it is one positive notch (given their value investing and activist record) in a long list of negatives when it comes to this company.
As a separate thred indicates, there is value in parts of the business, and the CBI issue (and mgmt time, effort and also business cost to address) seems to be the primary issue that is concerning the market, and hopefully they can ringfence this and demonstrate to all stakeholders that an issue in a relatively small part of the business is being addressed while the rest of the business continues to execute.....an aspirational view!
EML Price at posting:
44.8¢ Sentiment: Hold Disclosure: Held
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