Promising. Stating the obvious, the imperative is to marshal every vote to replace the Board. The Board would have been privy to the votes lodged so they know where things stand. Either....
1 )they still have the numbers and will just go thru' the formality of the EGM and this process would have been a waste of time or
2)they know they do not have the numbers and possibly make a low ball offer to buy out sufficient shareholders to still get control or alternatively buy out the whole company.
It isn't hard working out the quantum of cash expected from the loan book in run off. It's substantially more than the current share price. There is a lot of upside value on the table. The unknown is the residual value in the ongoing RR business. The Board and Management have been very quiet on how RR is trading since it moved to a online/digital platform.
It will be an interesting coming 4 weeks.
Promising. Stating the obvious, the imperative is to marshal...
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