OTCPK:VGIPF - Post by User
Comment by
roscoe74on Nov 05, 2013 11:17am
220 Views
Post# 21877495
RE:New directors, executive search and special meeting this wee
RE:New directors, executive search and special meeting this weeIt looks like the present BOD is attempting to change strategy to convince shareholders into thinking the BOD has shareholders' interests in mind.
The simple fact is that this crew had six months to repair the damage caused by the excess debt issue and waited until challenged by dissident shareholders. Announcing a Special Meeting quickly appears designed to catch dissident shareholders on their back foot while the BOD attempts to round up proxie votes. The company is burning cash that should go toward capex to hire advisors to advise advisors to advise the BOD.
Its fairly obvious that there are no buyers for RPL or its assets which the BOD finds acceptable but the burning issue is whether there are offers that the shareholders find acceptable. I'm going with Front Four because their interests are aligned with mine while the present BOD are allegedly fee-hunting placeholders with no skin in the game.