To me this whole thing looks like the board of Roc have just lost their patience. The way that Roc have been steadily building a profitable company since the GFC has not been fully reflected in their share price, hence the low PE ratio. The market can turn a blind eye to good fundamentals for a while, as it has, but there comes a time when it is recognised and the share price finally starts really moving, which I was expecting, in Rocs case to be soon.
I welcome this move from Simon Marais. He is trying to empower us as share holders to have more of a say. If more than half of ROC sh's don't think this is the best way to proceed it should not go ahead. If Alan wants to resign from his position at Roc, he should find a different way to do it.
ROC Price at posting:
50.0¢ Sentiment: Hold Disclosure: Held
