I wouldn't know one way or the other but why do you assume that Scanlon would not vote in a block with Abotomy?
I would have thought that they would have had a good relationship given Abotomy's time as CEO / Chairman.
Do you know if there is a reference to Scanlon and the existing board? I may have missed it.
The other thing I was thinking is that the current CEO would probably have his mooted bonus package voted down in the old board is voted out.
I was also thinking that Scanlon might be in a position to buy out the remaining business as well as the rights to the various client databases. My recollection is foggy but at the AGM I can recall Abotomey talking about the future 'possibilities' of that sort of intelligence. I think he said something about not being in a position to utilise that sort of thing at the present time. Perhaps someone else might remeber the details.
In any case, I would imagine a meeting will be called in 30 days or so to put matters to rest and I would expect a subsequent meeting (perhaps immediately after the first) to wind down the business and sell off any remaining assets / databases.
Good luck all.
TFL Price at posting:
24.0¢ Sentiment: None Disclosure: Held
