BirdDog’s decision to delist and offer a discounted buy-back is...

BirdDog’s decision to delist and offer a discounted buy-back is the final chapter in a long-running story of failed leadership and strategic incompetence. The board has overseen years of shareholder value destruction, chronic underperformance, and squandered what was once a promising tech platform. The fact that this company is trading below net cash speaks volumes — not about market conditions, but about the board’s inability to commercialise, communicate, or capitalise. This isn’t a strategic pivot; it’s a white flag. Investors deserved far better.