That is the possibility I see too, and is underwriting my position here for now.. If he drops out id sorely accept my losses and run, but prepared to see how this plays out.. Not too surprised the mkt didnt react to latest purchases, has had decreasing impact ever since 6%.. But to have a seasoned successful investor now hold 10% shouldnt be underestimated.. He has ploughed in just over £12 m by my calcs.. No one does that lightly.. He will certainly havethe ear of BM & team now.. We can only speculate at his intentions, but he has a net worth aufficient to buy blnx at these prices.. So im feeling positive about this for now.. Probably the only thing, given the mess that is our brand non-launch and management's incompetence in the public domain!
I believe RG's strategy is simple. He has 10% so can now put forward a resolution to replace the board with him and his cronies. Lynch may be a forced seller with RG will pick up. He can then orchestrate a sale of Blink's business a la Quindell for say 70-80m, leaving a 60-70p cash shell for distribution, Hey presto, how to turn a £10m investment into £25m
AU...Just spotted the article on
The BBC APP business page......groan! " Meanwhile, representatives for Mr Lynch and his colleagues said in a separate statement: "The former management of Autonomy announces today they will file claims against HP. "Former Autonomy CEO Mike Lynch's claim, which is likely to be in excess of £100 million, will be filed in the UK." Late last summer, Autonomy filed papers in a San Francisco court accusing HP of "mismanagement" of the takeover." p.s. I was out all day and s/p up!
Ouch ! More fun and games ahead no doubt ! I notice the lack of trading pre results is at its most apathetic since Blinkx began .
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