We are close to 7p now and no buying from the new leadership. I guess they want a lower share price so they can allot themselves some hefty share options - Sir Richard has a habit of doing this. I think Phoenix must be regretting their inaction, as they have seen the share price nearly halve.
I agree with the suggestion that the company is probably likely to experience a further set back at this stage... Though it will probably be temporarily. It just means people's hoped-for returns are likely to come 6 months to a year later than planned!
I'm guessing the new team is of chair, non-execs and ceo is looking to churn the senior team, so expect some redundancies and new hires. I expect a bunch of very expensive management consultants will be brought in to devise a strategy for the company, which will mean everything is on hold for months. Also, they will be planning lifting of the VVOP. Wonder how many weeks the CFO will stay for? I wouldn't be surprised if at the end of this whole process, the company is actually in a worst state, as the new team have yet to articulate why they feel they should be in charge (apart from pay!).
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