This is a public company?? Management decides to take 12m in cash out without disclosure becasue they sold an asset of the company??
Have they not seen thier past decade of poor results, losses, debt restrucuturing and shareholder value destruction?
The more I think about it the more steamed I am getting. Now I know why the stock has been a horrible performer. Management and the board has no integrity - These actions are contrary to shareholders interests and need to be thoroughly investigated.
This company is not some private company in which the management can take money out without accountability whenever they like. What a farce. Lets hope the regulators get involved ASAP