Alpha you are right All OCV shareholders should attack the board...

Alpha you are right

All OCV shareholders should attack the board and ASIC over this transaction.

I have tracked down a name "Louise Edwards" who was head of mergers and acquistions at MFS/OCV. Do not know if she is still there but at least OCV can know that shareholders know about other offers.

The expression of interest I am aware of went through her addressed to the board. She was the one who stated that they had over 25 approaches in relation acquiring the management of PIF.

She was managing this review prcocess so it would be interesting to find out the review and assessment process that led to this transaction.

Must have been a good one when you have a international financial institution with billions under management wanting to partner in new business with OCV to clean mess up and you choose to effectively give away your business and income streams.

Dont even sit down with these people and flesh out offer.

Thats logical !

I am biased as I know a fair bit of detail on this approach and it made a lot of sense. There may have been an even better opportunity among the 25 but the one chosen was not it.

ASIC should force this process to become transparent.

For PIF holders the only comfort from Hudson is that she is going to pursue OCV and L and L which are very sick animals.

Question PIF holders need to ask is what money can Hudson put into this to fix the mess.

Saying she has 600 million in FUM is meaningless. If these are all invested in say properties they are not liquid and cannot be redirected to support developments, pay interest etc.

Does she have the resources to fix the problem.