Ann: CEO Succession, page-14

Good discussion all.

I read the announcement a couple of times (and I keep coming to the same conclusion), and as invertedva says, the simplest and logical answer is that Brad was not willing to play ball with what I assume will be a T/O offer from BPT in the near term.

Especially since Brad would have not been able to stay on at DLS, so he has decided to simply sell up and leave (except he's holding onto his options which will make him some extra money when the T/O is completed).

I am sad to see him go, as hes been a true company making leader. I wonder who will snap him up.

At a guess, the T/O offer will value DLS at around $1.30-1.40. Which is of course a disappointing end to DLS considering that is way off its highs, but the fall in the price of oil has lowered the overall market, even though I think DLS should receive a good premium for its amazing assets.

The announcement mentions a change in objectives.... bah... that's a nothing sort of statement.