Interesting thread, I don’t think the board has the surety and shareholder support to take control of the company. Supposedly the LMIG has +10% and I would assume a significant number of other shareholders who have been sitting on the fence would reject any opportunistic bid; like BWX if management attempted a buyout the board and ceo would have to step aside pending an independent valuation (blue ocean values CDY +$1.30) Like BWX, if a coup was rejected by more than 10%; all executive positions would be untenable and they would have to resign; highly unlikely as we all know they are on a great wicket and they wouldn’t risk jumping off the gravy train. Another theory, what is the probability of management taking the company private, delisting from the asx and offering shareholders a deal to sell out whilst market liquidity exist? Only to resurface on the ASX or Nasdaq within 12 months with a new name, phase 2 clinical program, $50m OTC turnover and an IPO to boot with a market capitalisation of +$250m. T7, I would love to know your thoughts: possible, probable, highly unlikely or impossible? My thoughts, in the current climate of the banking royal commission, the regulatory agencies watching any unscrupulous activity by directors like a hawk, I would think any attempts by management to seize public or private control would make the front page of the AFR. With both the ultra conservative chairman (D. King) and #1 shrew holder/director (D. Eck) over the age of 70, I would think the last thing they would want in the twilight of their career is an ASIC investigation.
Anyone else missing @Trae and @Osi ? Any chance of a smoke signal to let us know your still alive.
