AMF ProceedingsThese are serious proceedings and no doubt have had a significant impact on the CEO. Keep in mind that any fine imposed on Pyro, the company, has been capped at $500,000.00. It's Pascali that has the more serious potential liabilities.
Please take the time to review the material at your disposal. I'm just giving one take. I understand that the whole affair has most likely been a negative for the share price. It certainly isn't positive. The markets hate uncertainty and the AMF investigation has creating some of that.
It will be nice when the matter is concluded. In the meantime, it has been and will continue to be business as usual at Pyro. Just read all the positive NRs. These proceedings are not about the business of Pyro (plasma torches and technology). They pertain, mainly, to corporate governance and, yes, strong corporate governance is critical; I'm just distinquishing it from corporate product. Corporate governance can be managed and improved, if necessary; bad product is another matter altogether. Pyro's product is worldclass.
Also note the most up to date composition of the board of directors. It is very strong and has a good mix of both insiders and independent directors. It's credible and will ensure strong corporate governance.
I'm not saying anything negative here about Pascali and the transactions that are the subject of the proceedings. I would need all the evidence before venturing an opinion. The AMF proceedings could declare no wrongdoing. I have no idea. All we can do is wait for a decision, with the knowledge that it will be business as usual regardless of outcome. There have been far too many appointments and hirings in the last 18 months for it to be otherwise.