There are 3 questions we need to answer:1) what went wrong?2) is...

There are 3 questions we need to answer:
1) what went wrong?
2) is this upheaval good or bad?
3) Does Pudu have sinister motives & can they get away with it?
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1) It is clear that there has been disagreement between Pudu & a couple of other major holders with the old board.
The old board was hell bent on pursuing EV charging line & perhaps ignoring others (renewables/solar/wind/telecom/data centres/defence etc)
For some reason all major players in the EV infrastructure are in serious trouble. All lost >90% in the last 3 years......CHPT ,EVGO ,BLNK ,BEEM ,WBX, Tritium ( Tritium lost 98% & may not survive)......I don't claim to know the reason but it is a hard fact.
Compare these with a couple of power conversion companies (both Indian)....#Hind Rectifiers . #Transformers & Rectifiers.....The former is up 500% in the last 3 years , the latter up 1000%.
Perhaps the major holders saw the writing on the wall & wanted more diversification , hence the split.
2) We are of the opinion that this is very bad & the market will likely mark RFT down on relisting......Long term could be favourable.
3) Pudu is not out to wreck its investment....A hostile T/O is on the cards but they have to pay a premium.....The ousted board hold >10 & they can block an unfavourable T/O.
I have seen a couple of Chinese controlled companies that simply vanished & delisted but the major holders were based in China & impossible to reach .....Pudu is an Australian private company (controlled by Chinese nationals) & they will be easy to reach & held accountable.