Pjsimon....McCabe could have resigned from the board and bought the company for pittance 4 months ago...but no he is ethical..after all..HE IS A BILLIONAIRE..so money is not the problem...I think McCabe likes a CHALLANGE...and VALAD is his challenge...good for all shareholders...and maybe he likes to spend some time here in Australia...he knows his own European operation...and I am sure he will pick up what the Australian operation is all about..after all he arranged the Scottish Bank JV...and Europe as it recovers so will the Value of Valads JV...and I am sure the present share price is not a problem for McCabe to buy more...shares in this undervalued company
mc cabe, page-9
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