Completely agree TB, the only other thought that popped to mind is they wanted CEO change and couldn't get the votes... I am undecided if this is a good or bad thing yet.
You have to assume the Top 20 aren't idiots and if they felt it was in their best interests to change CE out then they would do so in a heart beat.
I can't disagree with the company strategy at all, consolidating before building make lots of sense. The weak register though tells me we haven't convinced enough backers to get in on the journey. Another CR raise will almost certainly be done with a body shop who will just sell our shares the second they have a chance.
Unless this is backed by a meaningful announcement (better more connected directors) then rarely much good comes from this change and we should expect more SP depreciation (if this is even possible).
GLTAH - I have changed my sentiment to hold from buy.
HCH Price at posting:
66.5¢ Sentiment: Hold Disclosure: Held
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