If the new CEO/MD (our saviour) suddenly pulls the plug, stating that he never knew what state the company was in, or considers that he was not properly informed, then it's game over, sell everything as quickly as you can.
And millions of Cohort escrow shares are yet to hit the market in May.
What has happened so far then? The Cohort owners declined to join PPL, the Cohort director has left, the finance director has left, Chan (the founder) has left, Challenger funds have sold out at a big loss (so what did they know?), and now the biggest dumping in the company's history is taking place (who is doing that?) - why would anyone buy?
Where is the financial half yearly report?
This company has not responded to, or answered a shareholder phone call or email in my experience in two (2) years - utter contempt.
Perhaps they are now getting what they deserve, for their arrogance and financial and technical mismanagement since listing on the ASX. And perhaps they never realised that once you are publicly listed, there is nowhere to hide (which is also perhaps one reason there are so many quitters now).
The market has judged this failure, the stock price has gone from 50c to 9c and is still falling.
The only people who are laughing, and sitting back on the beaches of the Caribbean drinking tequila and eating cocktails, are the former owners of Cohort - what a perfect Sting they pulled off.
Gw
PPL Price at posting:
9.0¢ Sentiment: None Disclosure: Held
