The assumption now by some (reading between the lines), is that when Oceania Partners were denied their final payout by Pure Profile for the acquisition of Cohort (because Pure Profile believed they were misled - as per the article), that Oceania Partners then went out and borrowed voting stock, called a meeting, and threatened to call for a vote on the expulsion of the Chairman.
Soon after, Oceania Partners were then paid their final payment (or a proportion of it) by PureProfile, and so they withdrew the purported threat/motion to remove the chairman, who (unfortunately for some) is still in office.
But the chairman did save his job. The question however, is will that now be a benefit or hindrance to Pure Profile going forward?
I wish I lived in Sydney, I'd wander down to the offices and start asking some questions, with the aid of a journalist friend or two. We might find some answers, be they bad, or in fact, good.
At least the new CEO seems to be leading the company in the right direction (by all reports). I do hope he stays the course though, because some would consider that he is really the last hope for this company.
Read the comments at the bottom of the articles, and do more research.
Gw
PPL Price at posting:
13.5¢ Sentiment: None Disclosure: Held
