Share
3,469 Posts.
lightbulb Created with Sketch. 271
clock Created with Sketch.
11/02/25
11:58
Share
Originally posted by relaxan:
↑
It is all a desperate attempt by Bolton to retain control. I agree that WAM unlikely to seek any more equity in YOW. Control KBC then in theory you control YOW as they have 60+% of YOW. But this is where it gets interesting. Bolton lost Catalano support so he was going to be toast at KBC. So what does he do ?, he along with his loyal Patton hatch a plan. They have YOW call in its loan to KBC, providing insufficient notice to ensure that KBC goes into Administration. They appoint a VA that they have previously worked with. They then try to prevent the shareholder meeting proceeding by Patton trying to adjourn the meeting. Their motive seems clear, that is as it stands, they control the YOW board, YOW is the largest KBC creditor. Thus they control the debt and the vote at any creditor meeting. They will start legal action to claim the shareholder meeting was invalid, as they do not want Wilson et al to control KBC. They will likely also claim that whilst KBC is in VA and indebted to YOW, that there is a conflict to any Wilson et al appointees to the YOW board. In any event it is the VA that controls KBC and they hand picked him. Geez this Bolton is a piece of work. Doesn't care how he affects shareholders, just cares about himself. Hope he fails and KBC pursues him for the dodgy Lake Como money.
Expand
karma bites so don't worry and all three of them will be in line in the court in my opinion.