With the benefit of hindsight, the redeemable notes were probably the right call to avoid debt covenant issues.. But given managements remuneration, if it was voted down and perhaps reduced, the issue may not have been as large..
I know a lot of the issues that Bradken are experiencing are out of their control and again in hindsight the way the board are handling the whole company is probably the correct way..
BUT, I struggle to see paying the board 4 or 5 mil in wages after sp has dropped 90%, and many other employees on the ground floor loosing their jobs as a result, as amicable.
But that is also probably part of the reason I don't run a publicly listed company, I'd struggle to make the big calls..
Gltah
BKN Price at posting:
90.5¢ Sentiment: Buy Disclosure: Held
