Yes, Cohort were paid way to much, they worked a beautiful sting, and the directors of PureProfile must be responsible for not doing due diligence, as well as for financial mismanagement in not calculating that at the price paid it would not be accretive.
At the time of the H1 FY18 results, PPL has a -$8.8m loss and A$7m writedown.
What is going on with the company and the share borrowings?
Yes, it looks like someone changed their mind and is now not wanting to borrow the shares. So what does this mean in relation to the chairman being removed and the calling of a meeting?
In order to save his job, the chairman and directors may have decided to pay Cohort even more money, or at least, the other $1.5 million approximately that Cohort is demanding.
If this is case, Cohort may have dropped their legal action, and also will agree not to call a meeting to have the chairman replaced. Expect a notice soon.
I'd like to know the inside story of what is going on, and I have long thought that the shareholders deserve a lot more information and consideration from the managers of this company.
Gw
PPL Price at posting:
12.5¢ Sentiment: Sell Disclosure: Held
