Originally posted by Up2Date
Here is my take on from today’s announcement
1. It’s now really seems a reverse takeove
2.Winners are taking control in respective areas, in case of a merger, if you give control to the losers (who were not earning money) will result in total collapse. Do not get me wrong, old Alcidion is a winner in its technical side but was a looser at marketing and sales (Thanks to NB and BL).
3.There was a clue in Kate’s last presentation (mid-November) about Duncan’s leaving. Kate mentioned “we are seeking to appoint group financial controller” Not exactly in her words, but something along those lines. That explains Duncan’s decision to leave didn’t just come this morning. He sold 1m shares to Ray early December. I do not have an up2date top 50. But I guess Duncan sold more during this time.
4. We thank Nathan Buzza and Duncan Craig for their contributions. Can’t thank Brian Leedman yet as he still holds official rights to buy 10m options at 0.06 and 0.08. Please note, he already bought and sold (at profit) 5m of his shares that he converted from options. He could be a potential headache if ALC share price rises rapidly
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5. Ray becoming Non-Executive chairman, could potentially mean he is again considering some senior Govt. position in health sector, could be? Mean we have to pay $287k less in staff salaries.r
It is more about consolidating the business and reducing labour costs especially when you have multiple offices nationwide. The finance team(CFO and the new group controller) are now based in Chatswood NSW, Adelaide office would most likely be the new software development team lead by Malcolm Pradhan. Melbourne office I guess would be where the senior management and sales team resides.
