lol, of course it's to feather their own nests! they don't care one jot about us!!
Personally I'm not against a change at the top, a little more dynanism wouldn't hurt in my opinion however I'm not convinced a firm of asset strippers are the best route forward myself. All they are doing is looking at a cheap company with loads of cash, trading pretty much at cash and grabbing what they can, nothing more nothing less.
When is the vote to out the board? When is the meeting to decide way forward on etinde? If the board find a white knight on bomono before the first vote? Problem with the buyback was they retained the shares so they could be re issued so not really giving much to shareholders Oc can get the company for 33.47 highest price 12 months A disaster But the bod need to revenue bomono NOW Their last hope
Probably wishful thinking but this the perfect time for a white knight to appear, the BOD are in disarray and the last thing they would want on their CV's is that they have been sacked by their shareholders. The majority of the shareholders are undecided on which way to vote whether it be Edinborough or Monaco. COC are not sure they can win the vote and would be happy to throw their 15% in favour of a reasonable offer, so long as they make a quick buck, Very interesting and still all to play for.
Again, this would have required someone to get off their backside and do a few hours work...................it's easier to put together a 10 minute "provisional response" to include a little "mud slinging" and fire it out to shareholders.
Even as they are about to have their jobs pulled, they still can't put in the work to save them. The sooner they are booted out and replaced the better. In theory people will argue (as the BOD are trying to) that its in the shareholders best interest to keep the BOD and let them realise the highest value. In reality, everyone knows thats not going to happen. If the existing BOD are allowed to remain then shareholders will not profit, it will mean further years and years of promises, with the end result being very little delivered, other than the BOD extracting that cash balance for themselves. IMO holders stand to realise more value through COC's plan than they ever would by waiting for Mr Hart to deliver.
stupot...While I agree with things you say...It seems to me a BOD has all the right to inform shareholders of theri concerns about the company anytime they see fit... You might not like what they say but they have the right to say it... .
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