My guess is that there are a number of things going on.
- Disagreement about long term strategy - partner/license sooner rather than later.
- People getting older & more conscious of time. Not sure where Heaton & Brown fit in but they didn't walk or appear to support Kelly, so seems that they are ok with the shorter term strategy.
- NRT was Kellys "life work", not the Directors. A quicker payday probably suits their timeline. They would get remuneration somehow out of a deal. Shares/options, more directorships, status from success, increased fees, etc. The Directors may also see it as their responsibility to shareholders to bring the money in sooner, we live in a short term world.
- Kelly may have done or said something that gave them leverage enough to force him out without a fight. If Heaton & Brown were also on the Directors side, even if just by not being prepared to also walk, then Kelly would have realised that he couldn't win a fight.
NRT Price at posting:
15.0¢ Sentiment: Hold Disclosure: Held
