I've been trying to understand what the proposed new board could bring to the business, and whether there is a realistic chance of it continuing as a going concern. I emailed Graeme Newing on Friday seeking further information. Graeme has been following PET for many years and seemed genuinely interested in the company succeeding, having a significant shareholding himself (in the past anyway). I am not at liberty to reproduce his reply to me on this forum, but you can get further information if you go to his stock analysis site, newingonstocks.com , and head to the public domain section under "Recent Comments" (disc: I do not subscribe to this site).
The loss of shareholder knowledge and influence that comes from de-listing is a real concern to me, but I don't presently see any scenario where this will not occur. Presumably PET could not re-list even if the new board wanted to, due to the ongoing liability issues creating the risk of insolvent trading.
Thanks for the information on ID8. This lends support to the view that Link Traders is indeed involved in supporting the actions of the proposed new board. The involvement of Bart, van Boheemen, and Link on the ID8 attempted board changes could well have been a genuine effort to improve that company's direction and strategy. It is concerning though that there appeared to be no information to shareholders on the "value add" behind the proposed board change before they had to vote. Hopefully, this mistake won't be repeated and we will get some worthwhile information in the forthcoming "Notice of Meeting"
PET Price at posting:
2.5¢ Sentiment: Hold Disclosure: Held
(20min delay)