Socrates
I believe you will find the Chairman stepped aside for reasons regarding family health issues taking up the time necessary as acting as chair opposed to a non exec director , nothing or anything sinister to do with the hybrids .
On the down side I believe they have made redundant far more numbers than they initially envisaged and this will impact the short term losses but in my view save the company in the long term
When Boon and Marchant were in charge hybrid holders were calling for such drastic reductions to expense overruns and waste , now it appears this board and management are doing this the pain to gain is being criticized
I just dont see what more Price and co can do , than give up their personal lives travel all around the world on a sub standard salary package with in its only serious incentive based around the share price , be the guy who has to wield the axe ,and attempt to trade through a period where paper sales are falling as fast as the apple from eves head
I think we should all take a chill pill , and wait to see just how much revenue is left and see just what level of cuts have been made in the countries where the losses were out of control under the old board
Shareholders like me who paid as high as $2+ for some of my stock are suffering just as much as so many of the old hybrid holders yet most of the noise coming from hybrid holders is from new buyers with agendas outside what is best for the company as their motive
This board represents the company first , the shareholders next then the staff etc and hybrids will have just have to wait or as I would like to see come together in a fair share swap .
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