I am in two minds about this latest development. Is it intentional or has it been forced.
Anyone know how long it takes from go to whoa to put together the documentation for a CR, rustle up some instos so you know they are going to commit, and then roll it out? Can it be done in a matter of days, or does it need weeks to do so? The reason I ask is if NC was lying at the last CC and it can be proven that the wheels were in motion for this CR at that point, then there would be a good case to take him to task.
However, my gut feeling is that whilst we retailers are being shafted, the insto's may be doing the same to the board. After all who has the major voting rights at this upcoming AGM? For it to be on the record at the CC that there was no intent for a CR, and for NC to flip around suddenly, there could be some external pressure being applied.
No warning, bad timing, its either extremely arrogant, or there was no choice in the matter. Either way, I don't care any more, I just want to see some product.
LYC Price at posting:
66.5¢ Sentiment: LT Buy Disclosure: Held
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