RE: Buckle in folks it's time for another Ted talk from swe7824 Sep 2020 06:48
Buckle in folks it's time for another Ted talk from swe78Wed 19:16
Buckle in folks it's time for another Ted talk ?????. Thought I'd share my latest thoughts regarding EUA..
Since the AGM I've been racking my brain trying to understand why DS left his position as NED. Something related to Deloan? Hasn't been a problem so why now, can't be. Something about an easy exit after sale? Surely that'll be just as easy as before..
Then it hit me, he can't hold his new role whilst being NED because this new role is 100% most definitley an >> executive << role.
So why does this matter? Why not just promote him to an Executive like they did James? According to this link, excluding the chairman the BoD needs to be majority NEDs https://tmsnrt.rs/32UN6Lg
So pre-AGM:
CS : Exec
JN : NED
DS : NED
GF : NED
IR : NED
= ????
If DS was to be exec:
CS : Exec + Chair
JN : Exec
DS : Exec
GF : NED
IR : NED
So excl chairman. = 2 v 2 = ????
With DS stepping down, this makes it 1 v 2 = ????
So trying to analyse this a bit further ??:
-Giving James the CEO role + director role was more important than keeping DS as a director (from what I read you can still be CEO without being a director). Also appointing him on the day of the AGM means he doesn't need to be elected for this position till next AGM = streamlined appointment. My hope is this was a courtesy to the winning bidder that he'll be there as CEO when they take over
-Due to his NED status, so far DS has been limited in the amount of work he can do relating to the sale of the company. Something must have changed which has meant he has had to break free from the shackles of his title. Where is this line? No idea, but I'd like to imagine its somewhere along in the realms of getting his name signed in ink on an official Document.... ?? (I'll let you use your imagination)
So whilst people are in a panic worrying that all these changes mean the FSP isn't as far along as they hope - I think its the exact opposite. Again I really believe this is the reaction to an event, not the attempt to trigger it.
Tl;dr - I think the company are in the stage of FSP where **** gets real, conveniently as we're approaching the peak of time to offer from FSP announcement.
We're on day 85, peak is around 120 days so now gives a little over 1 month for the financial advisors to write the prospectus, the buyer to write their strategy reports/presentations to show their shareholders why they're buying it and for our directors and advisors to sign their irrevocable undertakings ??????
(And of course DYOR I'm just a PI expressing my opinion which may very well be very wrong etc etc)
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