Cardno boasts at its AGM that it's cutting ties with Adani....

Cardno boasts at its AGM that it's cutting ties with Adani.
Resources Minister Matt Canavan retorts, 'Apparently Cardno basically does no work for Adani, so this decision is just another example of the gutless wonders in our corporate sector who want to parade their apparent virtue without making any sacrifice themselves. It's the moral equivalent of a vegan giving up meat for Lent'
I hear on the grape vine that Cardno's existing mining clients are all fired up to get rid of Cardno on every job.
Cardno's competitors can't believe their luck.
And a nice start for Intega - to lose a large chunk of their client base on Day 1.
Not that I'm a climate denier or think the current government has got it right with their climate change policy (why not set some targets and let the market deliver them!), but Cardno's 'thought-leadership' on climate change is pathetic on multiple fronts. I guess that's what happens when you have people in leadership positions who don't really have a clue what Cardno's business is about. Of course, when you are preoccupied with a collapsing share price due to management incompetence, it's much less intellectual effort to come out with a negative statement as opposed to coming up with some positive suggestions on dealing with climate change.
Or am I wrong, and it is in fact a clever way of taking over the rest of the company (well now 2 companies) without paying a premium to existing minority shareholders?

[PS: I'm a HOLD as I keep thinking surely they can't totally destroy what was once a good business (and I still don't want to admit to myself I got it so wrong after going overweight in CDD]