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Oooo - that was a good question : )
What we really need to know is who voted against JB in the previous vote, how many votes each did they have and most importantly WHY??? Are JBs resolutions now the same as the resolutions at the previous vote???
No need for anymore theories, I've had a word with mystic senator
1)JB Wins
2)GC joins him
3) Claims resolved and debt sorted by October and December
4)Lending by xmas
5)New furlough scheme has meant there's no defaults
6)£2 by xmas
7)Windmill remodeling starts next year paid for by dividends
Golden :)
That said - you are imaging some arcane set of mixed results. If any story can deliver that sort of insane outcome - it's this story.
To be clear - I believe most that support JB will have voted in favour of all the (his) resolutions thereby removing the board members that are against JB.
Yes bigbangs you are correct I got my wires crossed with the original question.
But he only gets in if specific RG proposal is passed, if one is then surely all are.
I totally agree Mark but for JB to win the others have to go.
Yes his board his choices would but the current board wouldn’t
No Mark I think on this occasion you are wrong - the board (he has put together) would support his appointment.
re- your question on jb as CEO EXPRU2000.....If and say if the board put it to a general shareholder vote and it came out that the majority shareholder vote was in favour of James as the CEO then they would have no option but to make it so but, that just my opinion
Expru - if JB wins the vote the new board will propose him - I suspect unopposed as either Exec Chairman or CEO - no doubt about that, he just has to win the vote and now that the existing BoD have been thrown into total turmoil by GC’s resignation I hope that will sway any reticent institutional investors to back him. All we need to secure that is for GC to come out in favour of JB or better still join him.
Well yes they could expru depending on the results Tuesday
Iagree EXPRU2000 its strenthened JB chances of winning
I don't think the BOD are suppressing the SP, I think that they simply don't care. Spoilt children scared of getting off the gravy train. I think that there will be a ‘I’m afraid there is no money.’ moment, leaving empty chairs and if anything throwing as many spanners in the works as possible if JB gets in. It'll be brief though and upturn quickly.
I just do not believe a lowball management offer has any chance of success nor that it will even be proposed.
Seamus it would depend how it was structured but it could be done in a way that favours them ... we’ve seen this sort of thing before granting of warrants and options etc .... I dunno get them to buy the debt and exchange for equity who flipping knows anymore. We still got the performance triggers to deal with in December ..... I dunno I’m just clinging on for my target now
It's my view that for some time now JB and the board will have been pitching their ideas for the way forward to the iis and the fact that Glen - a highly respected, intelligent legal expert with connections and respected by the FCA and FOS has JUST LEFT the board, as he doesn't agree with their plans for the future, all says to me a JB win!!!
QUESTION - Can the board block JB as CEO if the majority of the shareholders, who actually own the company, want JB as CEO???
Twisty it’s the only reason I can think of why they are happy to keep sp low! Hedging their bets so to speak! If JB wins then they will as a parting shot try to push this as high as possible just to try to scupper him!
mark
If 40ish% is in the hands of II's and lets say 30 ish% in PI hands, do you think II's would back a low ball buy out ?
Agree with that Mark. I'm almost tempted to set an 8p stop loss on Monday for that very scenario.
If JB wins and I think that’s most likely then everything is as we thought going forward 20p a share once he’s voted in etc.
But
If the board wins then I’m expecting a low ball management buyout and I will be grabbing my life jacket and jumping off this boat.
@Yasawa - you CAN change your instructions if you have voted already, otherwise you are out of time. Date of AGM & GM are the same, resolutions unchanged.
91onmo & Mark1973 - Yes, interesting thoughts indeed... Hoping that the JB option for PI's would be dynamic rethinking and out of the UK growth into new markets, hoping if it's ii's getting their wish, that they are confidant all will pan out solidly anyhow (rather than the unknown 'by the seat of your pant's alternative) - Either should bode well for SP overtime? My thoughts only.
do we need to vote Again ?
Did my best in marshaling the vote and I'm sure we got a few but if the PI vote is the ONLY plan then I think that the BOD would have it, although possibly not on their most recent performances.