new wcp appointments

WCP has jumped today due to two new appointments, Ian Middleman as Chairman and Mark Pearce as a director and company secretary.

The market obviously believes these are significant appointments (and having had a look at Middlemas's history, I agree) and that they will provide the future direction for WCP.

The impact for PAX will be what this new management decide to do with regards to the investment in PAX.

One of four options as i see it:

1. Continute to remain a passive investor in Panax
2. Become more active with their Panax investment (for example, introducing PAX to potential JV partners - Middlemas has the connections!)
3. Dispose of their investment (hope they don't)
4. In specie the shares to WCP shareholders

As a long term believer in the potential of PAX's geothermal projects, and as a large investor in WCP (and very happy with today's rise :-) I would hope for either options two or four, with a preference for two.

I suppose the other thing to consider is that there will be some people that investedin WCP primarily for their PAX investment (I am one of those ironically). Some may be profittaking and may switch to PAX...again something I am considering.

Cdchi1