Greentech seem to have come to a temporary agreement to cease board hostilities, saying it has all been a misunderstanding, withdrawing legal action in latest announcement.
Key for Koo who is the plaintiff/requisitionist was this term in the ceasefire...
"The Requisitionist to have four representatives on the Board, including himself as the Chairman,and to appoint a co-chief executive officer to the Company, on or before 15 April 2020."
When this comes into effect the board will have more people on it than company employees, gives the non-Koo directors a chance to convert or demise, I think he has control when in effect.
I love this line in the latest release (HKEX release company code 195.)
" the Company realizes that miscommunication or the lack of communication between thePlaintiff and the Company was the main cause of the contention"
Sure it was . Will Greentech shareprice shift now, to normalize towards MLX?
MLX will have to contend with JV partner character change, not sure what it means?
Tin price under pressure because of coronavirus and effect on China's economy ...
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Price($) | Vol. | No. |
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