APAC only have the same information we have. They're not looking to propose a reset plan - rather they probably want to put it on C&M. If the Board can't demonstrate that Nifty is going to be profitable, as shareholders why should we fund it?
Renison as a standalone asset should be worth more than the current SP. I'd rather sell all the assets and realise a gain then continue throwing good money down the pit that is Nifty.
It is possible APAC have ulterior motives such as obtaining control of the company, or getting an inside look so they can make a takeover offer. They might try and drive the share price down and offer an even lower offer. But regardless they can't do either without the support of other shareholders. And honestly if there's some black hole in the accounts that they uncover - that's not their fault, can only blame the current board.
MLX Price at posting:
16.5¢ Sentiment: Hold Disclosure: Held
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