You may recall that I was a co-convener of PIGS with the late Graham Critchley. After many years of hard work by the New York hedge funds, other major PXUPA investors, and myself - I urge you to vote YES for the capital re-structuring - to ensure the best outcomes for your investment. The new Spicers will
- be free of all the legacy issues
- have plenty of cash (some/most of which will be returned to investors)
- actively participate in the long overdue rationalisation of the industry which is now well advanced
- start paying dividends, and
- have a new Board.
I have been in regular contact with all the major players in both Spicers and PXUPA and have been encouraged to join the new Board to represent all stakeholders.
