Great to see the new management getting on with business post acquisition It must have been a difficult task trying to sell the message that existing shareholders should sell but at the same time the company would have a great future. Sort of like convincing a kid "you won't like this lolly"
Interesting that the forecast acquisition was completed without the need for a capital raising. I imagine that most shareholders accepted the offer for two reasons, the foreshadowing of a capital dilution and the threat of a delisting. Perhaps neither will happen?
Management has stated the turnaround will take time. We expect this to be the case and there is always a 'cleaning of the deck' at such a time. However, we now have an invigorated board and management and a painless changeover. The 24% of original shareholders that remain can look forward to an optimistic future.
NBL Price at posting:
53.0¢ Sentiment: Buy Disclosure: Held
