RE: Distraction.17 Nov 2021 21:49
Although it's above my pay grade, in the June Share Purchase Agreement with Bermele plc, Taylor Partners Ltd (New Zealand) and Anthony Burt were principle sellers along with smaller shareholders. The usual undertakings (not to compete, poach staff, or interfere etc. for 24 months) were given, except Taylor Partners were excluded from the undertakings, which as far as I can see allows them, only 5 months later, to kick up a fuss about Directors who they appear to have supported at the time of the Agreement.
Dr Andrew Regan's past is well documented (Wikipedia), and his Corvus Capital claims to specialise in helping under-performing companies. Presumably he met Mark Taylor in New Zealand whilst on his way to one of his polar expeditions. Corvus is advising Taylor Partners. I think Corvus itself has not declared any share ownership in EISB.
Years ago my company opened a branch office in New Zealand having won some decent business out there. However we soon realised how small minded and petty some business men were in New Zealand. Pathetic squabbling, internally focused and basically lazy.
Regan's nominees seem to have done the rounds and are looking for jobs having departed New Look. Guys in the twilight of their careers who don't seem to have stayed long enough in any company to truly judge their worth, in my opinion.
Certainly an unwelcome distraction for the BoD, and Taylor Partners involvement appears pathetic to me, but see above.
Whilst Regan has a track record for growing businesses, however our BoD has expressed that this may be at the expense of us Private Investors if he were to get control. Certainly his actions so far are concerning.
All my own personal opinions. Do you own research. I have a significant holding.
R