Something is massively wrong here. Either too much authority is vested in the Executive Director and he is taking decisions which are not aligned with and/or notified to the rest of the Board, or the Board as a whole is not having sufficient regard to the views of major shareholders and has been told same, or the Board was told the proposal was likely to be a complete dud as access to finance tightens. Or more likely a combo of them all.
In my experience in corporate life no one makes a major decision without taking informal soundings to determine whether the idea will fly. The failure to do so here explains more obviously than anything else can why the sudden lurches in direction have occurred and why it might be best to steer clear.
SVY Price at posting:
8.4¢ Sentiment: None Disclosure: Not Held
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