3 weeks to agm With a little more than 3 weeks to the AGM there is a lot of anticipation of possible upcoming news.
I think it is becoming obvious that the big news if there is any prior to the AGM will be the Veolia deal.
We don't know at this point what that deal is but it seems like it is going to be a lot more than Veolia just liscencing the RMR rights. It appears as though that deal has grown into something much larger.
I think that Veolia are probably a lot closer to selecting the first RMR location than was expected and had grown very frustrated with ORT Management regarding negotiations for the RMR rights so they approached the BOD with a much larger plan.
Whatever is in that plan is so controversial that 3 Directors are leaving the BOD. There have been speculations that these 3 Directors "dissented". If that is true then it adds fuel to the speculation that this deal runs deep and is a fundamental change to the business plan.
The hiring of a COO,,, the formation of a Communications Committee,,, the replacement of 3 Directors,,, the addition of a Veolia VP to the BOD.,,,, This is a fundamental change which is not a cooincidence. Ort did not suddenly on their own just decide one day to embark upon this restructuring.
Veolia is behind it all. They are serious about protecting their plans for RMR using Ort technology and they have stepped up to protect their interests and move this forward.
I am glad to see that Ort has not just sold them the patents for RMR. The situation now is that if Veolia want to move ahead quickly with RMR then they have to ensure that ORT stays healthy.
I am sure that Veolia would prefer to just buy the technology or company lock, stock and barrel and have it done with but Orbite are not going along with that. Wether they intended it or not , it is playing out that Veolia are vying for the part of becoming Orbites' "White Knight".
Now for the scary part,,, how deep does this deal go and how much control are Veolia after?
There is a price to be paid for being "saved" by a White Knight. Orbite is not at deaths door at this point so they still have a good negotiating stance but it seems to me like this deal is done.
The Devil is in the details. We have to wait.