Ann: Lake Appoints Executive Chairman, page-278

There is no conspiracy, this happens when you have shareholder base full of retail who panic. I’m sure there plenty of shorts today, but most the panic selling would have been from retail, this would have been exacerbated by end of financial year.

You lose no money if you don’t sell. If you are long-term investor and believe in the long-term future of the company this move is irrelevant. If you are a trader, well this is bad, and you will likely be selling into people who have long-term belief in the company like myself.

While I was happy with the new CEO announcement, as I think it’s better to have someone with more experience take the company to the next level, the manner in which it was done was obviously not ideal, these things are very hard to do especially if you have a MD/CEO who doesn’t want to go (which is my guess given the likely angry sell of shares today).

More clarity on who will be taking over is only going to be positive or at least provide some certainty.

IMO DYOR etc etc