My take on this is the board didn't see value in keeping LKH as the chairman, voted him out in June and now LKH is throwing a tantrum to try get himself and his mates back in control. Looking at last years financial report LKH only attended half the board meetings? Perhaps his other business interests in singapore did not allow him to fully commit to the running of this company? REX is currently positioned for high growth and they need a strong and committed team to lead this change. Not a bunch of rich internationals who just want to buy their way into the helm for the glory.
REX Price at posting:
60.0¢ Sentiment: None Disclosure: Not Held
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