If Michael has the numbers we think he has then kudos to Michael. The board will pay a high price for the rebuff of two years ago. Short of the instos wading in to the fray, a spill is almost a foregone conclusion and next Friday may see the beginning of the new beginning.
The BHP bloc has been well and truly singled out as too collegial. A bit more diversity in the governance gene pool could be on the way. A defacto controlling interest from a 19.9 % holding would be a concern though.
Michael, we know you are your own man and will be independent. We know you cannot reveal all but some reassurance is needed - time to refresh the message at refresh-nido.com
Sentiment remains a buy on the fundamentals of developments, prospects, and funds but with a ? over governance - perhaps it has always been that way
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