We have the 2 main shareholders holding just under 20% each controlling the board with 2 out of only 3 directors and the third so called independent director being of their choosing.
One of those shareholders/directors (KBC) has continually been buying stock at a very depressed sp.
A depressed sp because of the lack of news and direction to shareholders.
A cynic might be forgiven to think that the low sp suits their particular interest.
Only the major shareholders/directors know the real liability of the pending litigation, which I am sure they have had assessed by highly qualified lawyers.
An assessment that 98% of the other shareholders are not privy to.
I daresay that it is st in the present directors and major shareholders interest to present a glum outcome and then perhaps to make a low ball buyout figure to the other 98% of shareholders to maximise their return on Molopo's cash.
Talk about a conflict of interest!
MPO Price at posting:
12.5¢ Sentiment: None Disclosure: Held