i spoke to fowler

After a heated exchange with Susan, I received a call from Fowler which amounted to the following:

(It could have been any Accountant by the way he explained himself)

He claimed to be ‘just a book-keeper’, and used the following example to explain his actions.
If you have a building that the market says is worth $100m but you are only receiving an offer of say $70m, and you complete the transaction, it may be good for the share price / holder, but you haven’t realised the true value of your asset. Hence the effort to maximize share holder value. This example shows the true calibre of the man. I recall hearing Lou Gerstner (ex IBM CEO) speak at an investor briefing. He was grilled on how he was going to grow REVENUE, because any fool can create profit. Running a business is how you can progress its strategy. Not surprising, NXS has a achieved nothing in the last 4 years. It hasn’t drilled a well, or shown professionalism in becoming a Producer with Longtom.

The lack of factual timelines is due to NXS not wanting to demonstrate to the suitor a sign of desperation to swing the power in their favour. Hmmm… Had you thought about taking a position of strength and setting a deadline to the suitors (by way of auction or similar). Or would that be in the Shareholders interest?

Fowler needs to spend a few days in the fruit and vegetable business, then he would soon realize all assets ‘go off’ if you don’t get a move on.

He was not complimentary about Richard Cottee at all, and claimed it was a BIG MISTAKE. I don’t know any Accountant and Entrepreneur that saw eye to eye.

A gem from the 2010 (Fowlers) Chairman’s address.

‘I am also pleased to report to shareholders that the new Nexus’ Board of Directors is working together extremely well. When you consider the vast experience of our Board and focused management team under the leadership of Richard Cottee, your company has never been in better hands as we embark on our next phase of growth’.

But I must give him credit for giving me a call.