why dv left

I've read lots of the posts over the last 24-48 hours and share the disappoinment and exasperation of many.

A number of poster's have queried how can the given explanation for DV's departure :

"that given SGH’s strategic focus on
opportunities in the oil and gas sector, his position on the board of Nexus is no longer appropriate"

make any sense as he has had this conflict for at least seven months (no pun intended):

Here is my 2c worth :

Firstly - "no conflict, no interest" - thanks for going Don, at least we now know that if SGH is interested in NXS the interest is getting real.


Secondly I think the real possible explanations for DV's departure are :

1) There was some sort of deal on the table for NXS (with SGH or others) but its all fallen through, so he has lost interest.

OR

2) There was never any real deal on the table (from SGH or others) so NXS is slowly (? quickly ?) heading for receivership and he sure doesn't want to be Chairman when that happens,

OR

3)SGH is actually seriously interested now and the deal is actually done so he needs to give clear air ( perhaps 1-2 months as per Taipan's post) before it is all announced.


My hope (foolish as it may, and be reflecting my desperate need to believe there is hope in my NXS holding) is that it is No 3.
But even if it is, I am not so "dewey eyed" to believe they are going to make a bid or buy assets - as either requires the Board to evidence a "fair and reasonable" test. Rather the most logical scenario for me is a placement to SGH and a capital raising unwritten by SGH both at a deep discount.


I have not bought any more NXS for some time, as I believe if there is no "SGH rescue" then I have done my dough already, and if there is "a rescue" it will be a depply dioscounted CR, and that is the time to next average down (....aagh I shudder at the thought !!)

GLTA