Its unclear what is 'festering' behind the scenes.
Maybe its a group that see a fairly open register and that think they can takeover a cash rich business at a cheap price?
I don't know what is happening with Larsson. He hasn't been pushed and has stepped down it would seem. Or maybe the other Directors gave him an ultimatum. Either way his role in this affair is highly unusual given he was a Director at Glennon.
Glennon's beef is also unclear given he is only relatively recently a shareholder.
The petitioning group have thrown the rock but haven't detailed what is wrong from their perspective nor have they detailed how they would run the business differently.
And when you compare the group performance of SEQ against peers its even or better from what I can tell.
Staff and clients (and other shareholders) will want to know what the Glennon/Jones would do differently. Neither it would seem has a track record to boast about.
SEQ Price at posting:
53.5¢ Sentiment: Buy Disclosure: Held
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