nice to see you thinking and yes atm is likely looking to buy 1 or some of sml factories. as stated very publically last yr atm wants to own factories and that ties in with sml saying there will be no cap raising
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https://www.nzx.com/announcements/411090
Musical chairs.....
big changes coming after synliat warning ?
This is a post from KW in the other forum ... and I think its worthwhile to repeat that here:
Anybody involved in the Jayne Hrdlicka bashing at that time is hopefully ashamed.Quote:
author=KW
Maybe everyone was too quick to judge ... :(
Back in Dec 2019 Jayne Hrdlicka said "she had not anticipated the amount of travel involved when she took up the role 18 months ago... The Board and I agreed that this next phase is going to be too difficult to manage alongside my other commitments whilst also managing the health and wellness priorities of my family and me."
Turns out her husband was given a terminal cancer diagnosis in Nov 2019. He has now passed.
https://www.afr.com/markets/equity-m...0230508-p5d6t2
... it appears that tragic things happen even to CEO's ...
I think we should send her and her family our condolences ... and maybe learn that sometimes family reasons are not just a cover up when senior staff is resigning.
I think many people just reacted to the negative, they didn't take in account her reason for leaving, spending time with her family, the health and wellbeing of them, which in hindsight did tell us something albeit cryptic.
Unfortunately though she had already destroyed shareholder / Board relations prior to that with disposal of her sign-on shares, millions of $ worth, so it's not surprising imo that investors reacted badly to her resignation and didn't give a second thought to the underlying message that some sh1t was going down in her life and her family.
A lot of what she wanted to do seemed to make sense at the time, but I think she was battling the Board ego's who didn't want to upset the high double digit growth/earnings. And she had put shareholders on the defence. Well, we now know how that worked out.
All corporate listed company announcements are carefully crafted to obfuscate the underlying meaning, so as not to alarm shareholders, but all it does it actually does is create uncertainty and doubt which is the opposite of what they intended! It would be refreshing if company's just told the truth, plain and simple, like 'our CEO resigned because her husband is unwell and needs support that she can't give as well as meeting the demands of being CEO'.
That said, she really did smash shareholder confidence in her and the board, by selling her sign-on shares for millions, with the excuse it was to pay for 'tax expenses'. Even if it was true, it screwed her credibility and put the Board under a lot of pressure for not having considered that the CEO might just sell her millions as soon as she got them.
So, no matter what her reason for resigning, however obfuscated, she and the Board were already not trusted by shareholders.
What came after that was a complete disaster, not solely of her making, but the Board do still have class action law suits to answer to, they appear to have really screwed up and will have to defend why they didn't.
https://www.cfe-samr.org.cn/sldt/sdx...0605_4921.html
SAMR Approval