It appears like these guys are frightened and obvious.
What a pathetic cop out by PPL - it's a disgrace, another $1 million going to Cohort.
When OCP threatened to call a meeting to vote the Chairman out of his directorship in PPL, and it looks like they had the votes to do so, then the Chairman and PPL completely caved in, so that in order to retain his job, PPL have agreed to pay yet another $1 million to Cohort.
This is from a chairman who presided over the Cohort acquisition, which saw the stock price go from 50c to 9c, and who seems desperate enough to do anything to keep his job, including paying Cohort another $1 million of shareholder funds.
And in order for both parties to save face, they agree another director should be appointed, but not who it would be.
What a shameful company and set of directors this has been.
Any honourable person would do the right thing, own up to their failures, and move on (like Paul Chan did - who we fully respect for his decision).
So now we, and the market knows, that anyone can get anything from this company, all you have to do is get Cohort and OCP on side and threaten to remove the chairman.
Shameful and Pathetic!
Gw
PPL Price at posting:
12.5¢ Sentiment: Sell Disclosure: Held
