Having said that, the directors have a duty to act in the best interest of all shareholders, and will realise they are under the spotlight. Hannans would need 75% acceptance from all other shareholders to take this over, so I can't imagine he'll get it very cheaply (less than 15c). He's managed to increase his shareholding very cheaply (one could cynically suggest this suited him) but he'll surely want the company to start performing now. If it goes to far south, he'll know it's very very hard to turn these things around and he could lose OVT completely.
I actually think the companies poor performance has been far below the Hannans expectations. Why else would he have started buying at 20c?
OVT Price at posting:
6.1¢ Sentiment: Buy Disclosure: Held
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