It is interesting to observe that the board, the CFO Alistair Stevens, the CEO Matthys, and the company advisor Tim Day, of Sternship Advisers, have all been vocal to prospective providers of capital to the company that they wont be dealing with anyone connected to FW.
Raises issues surrounding whether shareholders best interests were being served given the debacle these guys have created by trying to eliminate and block FW as a competitor to their own so called recapitalisation process. No matter who the prospective bidders/ providers of capital are, one would have thought that competition would have resulted in better outcome for shareholders, growers and other stakeholders?
Secondly, shareholders should be wanting to know how Stevens, Day, and Matthys were to be incentivised regarding their own recapitalisation ambitions and how independent Day was as company advisor in this flawed process.
QIN Price at posting:
29.5¢ Sentiment: Buy Disclosure: Held
