Looking at the 2016 RTO prospectus:Michael White (ex CEO) is...

Looking at the 2016 RTO prospectus:

• Michael White (ex CEO) is associated with K&M Holdings Australia Pty Ltd - the largest CT1 shareholder
• Anthony Rowley (ex COO) is associated with Mainline Solutions Pty Ltd - the 2nd largest CT1 shareholder

Kartheek (CTO/GM), Anthony & Michael were the founders of CCP. All the key initiatives like the monitoring platform and shipment monitoring etc were started under the watch of these three. They've worked together since at least 2012. So be be fair, I think it's true to say these three have 'nurtured' a start-up through to ASX listing. So it's probably just a case that Michael has simply joined Mainline Solutions.

What interests me is that the 2 major shareholders could've used their voting power to spill the Board and stayed in the company. But they didn't. And even after leaving they don't appear to be selling (and trashing the SP). There departure definitely reduced the burn rate and enabled the Board to set a break-even target. But there's got to be something more...

What we know is the company has been looking at acquisition/takeover deals. There's no doubt the company has a great product/market story and the India IoT development team is a very attractive resource. Perhaps something is ticking along in the background and that's why the major shareholders are staying in.

Yak.