Making the meeting at end of 2 months (September) suits current board. It actually isn't good for the company or shareholders (would have been good to get it over with more quickly). The longer this drags out, the more discontent it forms. Current board knows this but having an earlier vote would have been more likely to go against them. They won't be minding the share price pressure as it sows discontent. They have also been happy to use scare tactics (executive leadership team letter which seems dictated by the board)(Personally I have never seen a similar letter to that one).
I am looking forward to October, personally I would like some of the new candidates on the board. At the end of the day we don't want a divided share register so finding a compromise if possible may be helpful in the long run. Looking forward to focusing on the positives of this company and its progress, once this is all over.
IPD Price at posting:
16.0¢ Sentiment: Buy Disclosure: Held
