the richard cottee blog, page-8

From Australian article today, re Cottee wanting to get back in:

"The timing means Nexus will be racing to sign a funding deal on the $1.8 billion Crux liquids project off the coast of Western Australia before the AGM if it wants to dampen any vote to overthrow its executive chairman".

Might not be too long before some action on Crux deal, sooner rather than later in order to forestall RC? Note also a comment by Silentpartner on the Cottee agitates for return thread which is I think very relevant.

Kwai, your warning could apply to going either way. As ill informed speculators we're in the dark. However, the way I read this is that there some big machinations going on by RC and parties backing him which will be resisted by the current board and if RC succeeds this may not be the best thing for all other shareholders. Is that your opinion?

Questions that spring to mind:

Did he resign in the knowledge that his backers would dump the stock and shake the price right down - and consequently be in a position to pick up a lot more shares cheaply? If he did, this would be collusion on a grand scale, so I guess not.

Perhaps he was over hasty and didn't realise the effect his resignation would have? If so, this indicates at least some lack of judgement and foresight. This seems to be the case as he wants back in now. He now (and his backers) want him back in but I expect that for the current management the door is now firmly shut. Is it wise to vote him back in and have him back in charge if he makes hasty decisions like that?

Although I was in favour of RC, kwais' warning inclines me to think that it's best to leave the status quo with the board as it is. Is this the wrong take?

What do others think?