Excellent outcome. And unambiguous. I would like the new board to establish/clarify four things:
- Why did the company conclude that the value to shareholders, of the cybersecurity assets, was better realised through an asset sale than through a continuation of the acquisition and organic growth strategy of recent preceding years? Such a sudden change without adequate explanation.
- Did we get fair value for the cybersecurity sale? And in assessing this, I would like to understand whether there were any actions (or deliberate inactions) taken by former directors and/or senior employees in the 6-12 months preceding the sale, that are likely to have adversely affected the value?
- What is the true value of our stake in TSI? Not an accounting value based on all owners seeking an exit from a self-funded business...but an insight into the potential value of TSI with an ownership invested in growing that business (should the case exist).
- What is the strategy of/for VOR? Is there one beyond either TSI divestment / investment?
All in good time of course....but not at the snail pace and opacity of communication established by Mr Lai at every single stage of his unfortunate stewardship.
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Dani Nadri, Country Manager Australia
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