Following the Hastie receivership I think Harry Boon will now be...

Following the Hastie receivership I think Harry Boon will now be even more cogniscent of his daily obligations as a director and more questioning of his management in all his remaining board positions .

In respect to PPX , if there is any negative surprises that Toby has up his sleeve for the June 30 results , I couldn't imagine that Harry Boon or Tony Clarke in the UK would be able to keep them from Harry , or remain undisclosed to the market for one minute , or let them come as a surprise in the post June 30 financials .

At the EGM , this board led by Harry made it very clear that they were supremely confident the restructure was the best plan forward , they did not want Andrew prices new ideas, or energy to progress the recovery quicker.

All directors on the EGM result bought stock on market between 8 and 10c as I see it a deceleration to shareholders they appreciated their vote and that all plans remain on track .

International markets have been very soft since the EGM , yet this board has not made any statement since their " stick with us " message , sale of the Italian business or Toby;s inference in media interviews that savings in the Aussie market may actually be ahead of the early estimates .

At the same time I find it interesting that Andrew Price has not sat quietly by and after a brief period of surmising has set up a website which seems to be focused to inform shareholders of his expertise in paper merchandising

I understand why he is so keen to get on the board and make a difference to his current shareholding value .

What I am not sure about is whether the Hastie demise will be further motivation for Harry to back Toby , hang tight and make PPX a goer .

Alternatively the demise of Hastie may suck his energy and give him reason to question whether his long term faith in Toby , was actually blind faith like it he may now feel it was in the case of Hastie .

If this is the case lets hope Harry knows Andrew Prices telephone number and has the courage to make the call offering to work together rather than apart .

In my opinion Harry has only one option and that is to stay as chair and see it through now .

He doesn't need to be stubborn and support Toby forever , he is capable of working with Andrew price or at least calling him for a new discussion .

Tony Clarke has had time to review Toby first hand now for a few months , and you would think he would of given Harry an update .

On this basis Harry has options

1. Be in a position to either tell Andrew to back off because PPX is well on track under Toby before Andrew takes the next step to call another meeting

2. Discuss with Andrew a way forward for the 2 of them to work together for the benefit of all shareholders , and get rid of the egos

or

3. Make an announcement to market stating that the savings generated from the last 2 years of restructure is not going as speedily as they envisaged at the EGM .

This is just my personal opinion .