If everything in the OCP document is true, then I will be voting for them, and in favour of both resolutions. Edwards has to go, if all these statements by OCP are true, so a bit more individual verification research is in order from here.
I am totally stunned by some of these statements though.
Why weren't shareholders of PPL informed of all this?
So Jenn Butler has gone as well, head of finance, but we had no notification.
And no meaningful explanations for Nesbitt, Berrimen, Chan, and others departing - this is shameful.
And apparently Van Damme is no longer employed in the Sparc business, nor Langton in the Cohort business.
All of this is unbelievable (if true).
And OCP are still owed $1.3 million. I'm assuming this is in dispute, so let's see what spin Edwards puts on this.
I'm also assuming that if all of this is actually true, then Edwards will walk before the vote, surely he'll have to.
Apparently PPL are broke as well (according to the Mumbrella article), which is perhaps why they can't (or won't) pay the $1.3m owing to Cohort/OCP (if in fact it is owing).
PPL lost $10.2 million for the half (according to Mumbrella), yet the stock price went up from 9c to 15c - ridiculous.
Doesn't anyone read the "Truth Serum" anymore (that is, the Appendix 4D Report)?
And according to the Mumbrella article, they paid $25m for Cohort, for a company worth $18m - such acquisitions are supposed to increase the company's market cap, not shrink it.
I've just read through the OCP statement a third time, and I'm still in shock. In fact, I'm too stunned to be angry ATM.
So at the moment, it looks like I will vote in favour of both resolutions, new directors, and new management, and hopefully OCP can guide this shipwreck back to the shore.
Gw
PPL Price at posting:
13.0¢ Sentiment: None Disclosure: Held
