I agree
@cfp that the announcement yesterday was perplexing and perhaps is specifically in response to the 249D threat because they mentioned the board of directors and management in this line
"I write to you today to advise that following feedback received from you, the owners of the company, we have moved to broaden this review to encompass the entire business operations, the board of directors, and management."
And then go on to say
"That consideration leads in turn to the need to consider the expertise we will need in the future for each activity in our board, and in senior management."
I've gone back and re-read the thread on the "New Board Proposal" and I agree with Anatol when he said "
Therefore I agree that the best for the Shareholders; GPP management should resign and handover the management [to] capable hands ASAP."
I guess it will come down to whether the capable hands are going to add value to the Company and shareholders. I would hate to think that there is a back room deal being done simply to protect GK and his mates and to further progress those who wanted to see change. If that is the case, none of this rhetoric about listening to "feedback from shareholders" is genuine and this little piggy would more likely see all future moves as a version of pork barreling or perhaps back scratching for mutual advantage ... though, of course, not for smaller shareholders, particularly if they are excluded from the opportunity to vote for any proposed changes.
I think it is incumbent on management to outline their intent prior to the EOFY so current shareholders can decide if they are comfortable with any future plans for the Company or if they'd rather cut their losses (and let's be honest, there would be very few that aren't holding losses now).
