I think we need to see the results by way of a trading update before we jump to conclusions.
All LCE can claim with their documentation is that they didnt do a proper analytical investigation into PSH before they invested and even further they didn't negotiate upfront.
I am not sure I want them leading any parade and ominously they state that the board is too large. So after they would have 2 out of 6 directors with one of these an executive who would have to try to straddle the impartial line they want to reduce the board. So how would that work as any further reduction in the board would result in LCE having effective control over the board with less than 10% of the equity.
This company has been in a 3 year re developmental phase and we need answers from that. I think we should await an announcement or some comment from the present board before we jump to conclusions.
I think this process has had one good outcome and hopefully the present board has learned that and that surrounds communication.
I will await the next few weeks with interest.
Disclaimer: I take no liability for the accuracy of my post. Do your own research prior to making any investment decision.
PSH Price at posting:
83.0¢ Sentiment: LT Buy Disclosure: Held
