Wow. I am seriously impressed with the board's communication. First it was the explanation letter for the share sales and now this.
Not sure if any of you noticed but David Hearn said they are going to aim for atleast 30% EBITDA margins in the medium term and they believe this can be achieved without negatively effecting the growth in US/China. This is massive. I have heard many conference calls and probably the top question was around margins and where they would go in the future. Jayne would never give them anything more than the current year.
As I expected, they put a positive twist on Geoffs retirement by saying that he is refreshed from the break.
Looking good imo. Dont know what the SP will do but I dont think it will be disastrous anymore and it could even make up the losses by the end of the day.
It is also becoming clearer that the Board needs someone who can fully commit over the next 3 to 5 years and Jayne was not capable of that. The main strategy is in place so they just need to find a new CEO who will follow the current strategy.
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