and YES to above post ---- this puts YOW in play for a T/O IMHO.
we all know that YOW SP has been hammered, down to almost cash backing very recently.
so having the mkt value the business at near zero levels is crazy imho.
I think the business is turning around.
I am sure that this Requisition is based on the premise that indeed, the business is on an upward trajectory, and is at last, about to show some good results in the next 2 Qtrs.
What I think we s/h need to understand, is that a Takeover is one thing --- but a change of Control (without a takeover Premium) is something entirely different !!
Current Board
Louis Carroll - Non-Exec Chairman
Bert Alfonso - M/D
Patricia Fields
Trevor Allen
Proposed Board
Louis Carroll
Nathan Lude
Bevan Tarratt
It is very early days yet, but:
- current new Chairman is proposed to be only incumbent to remain on board?
- who would be M/D?
- who would have retail experience on Board? some retail with L/C. but that's all?
- what is purpose of change in Control of Board?
- where do they propose to get retail experience from?
- who is behind S249D?
- will existing line mgt remain in place? will they jump ship?
- does Bert just lose his Board seat? or will they pay out his contract?? do they want him to stay?
- just what benefits will this wholesale change bring to YOW?
- what effects will it have on customer relationships like Walmart??
- is this just an Opportunist play, or will this fundamental change bring any real benefits to the business of YOW ?
We s/h need to take care I think, because if these board changes happen, then we will see Control of board change, without a change in shareholding. ie control of company changes, but those in control will only have a small s/h it would seem?
plenty more to play out here.
cheers
YOW Price at posting:
22.5¢ Sentiment: None Disclosure: Held
(20min delay)
