The Chairman, John Larsson, needs to state his position ASAP. He either supports Garry and Kevin Pattison or he supports Glennon.
If he didn't know about Glennon's share purchases and subsequent posting of the S203 notice he should have, And if he did know he either supports it or he should resign from Glennon's Board.
And if he wants Garry gone he, as Chairman of Sequoia, should have done it in the right way, Performance management KPIs etc.If he is using Glennon to somehow engineer a corporate power play to get rid of Garry then he is potentially creating a time/money wasting conflict/diversion that is highly unorthodox and shows he has no power/control as Chairman - where his role is to act in the best interests of all shareholders.
Hard to see how he is complying with his fiduciary duty for either company. He looks weak and/or conflicted
SEQ Price at posting:
56.5¢ Sentiment: Buy Disclosure: Held
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