Hi Canterbury - iIt looks like something is afoot and it's nice...

Hi Canterbury - iIt looks like something is afoot and it's nice to see the SP moving in the right direction.

Personally, I can't imagine GF letting go of control of VOR (&TSI) so easily. That's why he put MacLeod as a Director and kept JL on as a NED.

However, who knows - perhaps GF's time is up. It's interesting that TH lodged his becoming a sub holder notice on 1/2/21, yet he actually became a Sub Holder on 14/12/20. Initially I thought it was poor form to lodge so late. On reflection perhaps it was intentional.

Then on 16/12/20 GF stepped down as chairman. This also coincided with the sale of C10 & DWX to CyberCX.

We then saw what happened on the 17/2/21. TH increased his shareholding and GF resigned as a director within an hour.

It's interesting that TH and his nominations for the board would bring a decidedly Qld flavour to what's been a WA controlled company. HD has his contacts, so perhaps someone is coming to his aid in this time of need?

I guess the company is at a critical juncture in terms of being cashed up, the buyback decision, what to do with a fast improving TSI and looking for acquisitions. So I'm not surprised to see some activity and jostling for control, although its hard to assess which way things will go.

I believe the refusal to re-value TSI in the HY will come back to haunt the existing board. They had a decent chance to revise the valuation within the previous range and they chose to keep a conservative estimate. TSI's December quarter results further compounds that matter and it looks like others can see the value that the board could not. I'm not saying there's any deceit going on (as nothing wrong with being conservative), but I certainly wonder how a fresh set of eyes might view and value TSI.

cheers