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clock Created with Sketch. 22/12/15
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Originally posted by Megagene79
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Looks like the old board have decided rather then go to a vote and get booted off they step down to non exec's while also taking a 5% cut of the sale of the capitola project. Gives them some incentive to get a good price. On its sale PYM will have some decent cash and by the looks of Dan Lanskey coming on board they will be moving to tech via an acquisition just as RYG did with him going on board there. Big move on RYG and with PYM having a decent cash balance now plus what they get for the capitola sale they will be chasing a big tech target. With Geoff Barnes a sub holder and being one of the nominees in the board overthrow you would think at some point he will also join the board as well and he and Dan will work hand in hand on a decent tech acquisition.
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What's worse is they get paid to torch the assets for selling them. 5% of the proceeds are these guys now investment bankers? No they have already been draining our cash reserves and now they are taking another clip. Yes oil has dropped but this is just taking the pi$s
