Even the the 3rd biggest and low cost model Genea was more attractive to the Hong Kong/Chinese consortium who paid over $300m to acquire it rather than buy what is becoming a train wreck of a business.
I spent 12 months arguing with @Rupfel about Lynn Burmeister but in reality she is a symptom of a failed board.
It took them 12 months to find a replacement for James Thiedeman, who hardly covered himself in glory, and now he hasn't even lasted a year.
The Non Executive Directors were paid over half a million in FY17. They come from Consulting and PE backgrounds. What ever they were paid this year should be forfeited.
In the end I own my mistake not getting out earlier but I look forward to seeing the FY18 Annual Report to see how much the board were paid to execute it.
MVF Price at posting:
98.5¢ Sentiment: None Disclosure: Not Held
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