Mal is the key here....
No way could he dump 15 or 17 million shares at present without taking a sizeable loss. Suspect he is going to make a play of ZYL, try and operate on a sick puppy and make it healthy again for big long term rewards....
Likely to mean several board nominations and an EGM, possibly a backdoor listing of MVSS? A reputable board with professional people is crucial for the long term prosperity of ZYL.
Mckay's only chance of longer term survival in the CEO role is to get excellent results fast. He will know that.
Nick is history in so far as being on the board is concerned imho. The market clearly lost faith in Nick which could be seen in the lack of impact ASX announcements had. I personally thought the NEC and Avnet announcements were fantastic but the market disagreed. Also had 2 years to take the company to profitability and couldnt do it. May be offered Chief Engineers role? However if Nick considers going down the legal road against the company his future at ZYL is as bleak as an Alaskan winter as he will be directly trying to hurt shareholders. Charges against Nick appear relatively frivolous to me, a family "kick backs" scenario but only charged at commercial rates as per todays newspaper article (he didnt rob the company blind in my opinion)....
sikiotis fired, page-57
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1.7¢ |
Change
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Mkt cap ! $76.05M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
| 55 | 10062835 | 1.6¢ |
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|---|---|---|
| 1.7¢ | 4654217 | 8 |
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