I am reliably advised that the SAG has been in discussions for several days which they have conducted in good faith, but have now come to the conclusion that they have been taken for a ride with M M pulling the strings. The strategy by the company was to pretend they were willing to comprise but were actually just wanting to delay any campaign by the SAG till it was too late.
I beleive that a letter has now gone out to shareholders for Monsour and his 2 cronies to be voted off. They are also seeking the removal of Dr Corr so as to reduce the Board to six and keep the numbers of foreign directors and Australian directors even.
This all makes pretty good sense to me and results in the kind of dramatic change to the Board that was needed. Also leaves room for new directors that have been mentioned.
I've checked the SAG website and surprisingly it hasn't been updated yet. I presume they will get to it on the weekend.
Everyone get out and vote.
CBZ Price at posting:
18.5¢ Sentiment: Hold Disclosure: Held
