"Care to elaborate? That doesn't even make sense. If they are advising to reject the price then they are obviously thinking that the price of the company should be more than $2.70? Why would it be lower if they stayed?"
Because they were responsible for, and committed to, a strategy that I estimate destroyed more than a hundred million dollars of shareholder value between 2010 and 2018. (They increased the asset base of the business by a factor of 2.5 times, yet profitability fell by almost a quarter, meaning that Return on Capital Employed went from ~40% to around 10%.)
It was only following significant overhaul of the board, and replacement of the CEO, that the new management team has had a mandate to undo the damage, and to restore shareholder value.
Which is what the share price has been preempting in recent weeks/months.
.
Something is afoot, page-5
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Last
$2.95 |
Change
0.040(1.37%) |
Mkt cap ! $110.0M | |||
| Open | High | Low | Value | Volume |
| $2.96 | $2.96 | $2.94 | $9.085K | 3.072K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 180 | $2.95 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.99 | 10001 | 1 |
View Market Depth
| Last trade - 16.10pm 13/11/2024 (20 minute delay) ? |
| TRS (ASX) Chart |