For my sins I still have a small holding in this basket case.
What is coming out in this hearing simply confirms what I already believe.....$1 million here.....$10 million there.....it’s nothing to these guys ....Monopoly money. And yet again the record keeping is dismal.
What privileged, entitled, and shameless individuals they are that are caught up in this train wreck.
“At $180M, thats something like 80% of Nuix's market cap. Who is going to pay?”
Macquarie should pay.
It might even be in their best interests. To stand aside and let the $180m payment be borne by NXL and send the NXL stock price down to 5c would reflect very poorly on MQG.
Given they pocketed $565m via the IPO by selling down their share and given this shoddy arrangement was hatched (and poorly recorded) under the MQG banner - they should just step up and pay it out.
That would be the honourable thing to do....but judging by what I’m picking up from this passing parade of slippery suits at the hearing .....there’s little hope of anything honourable being reflected in the final outcome.
NXL Price at posting:
76.0¢ Sentiment: None Disclosure: Held
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(20min delay)