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Reckon Ltd T.RKN


Primary Symbol: RKNLF

Technology Software - Application
Reckon Limited is an Australia-based software company that provides software for accountants, bookkeepers, lawyers, small and medium enterprises (SMEs) and personal users. The Company’s divisions include Business Group and Legal Practice Management Group. Business Group provides accounting and payroll software for small to larger sized businesses and personal wealth management software branded as Reckon One, Reckon Mobile and Reckon Accounts Hosted (cloud products), Reckon Accounts Business and Reckon Accounts Personal respectively. The divisions operate predominantly in Australia and New Zealand. Legal Practice Management Group provides practice management software and workflow solutions to legal firms for document scanning and routing, print management and cost recovery solutions under the nQZebraworks brand, with a focus on releasing new cloud practice management products. It operates predominantly in the United States and United Kingdom, with re-sellers in other parts of the world.


OTCPK:RKNLF - Post by User

Reckon Ltd > whats up
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Comment by MatWeion Feb 23, 2017 10:44pm
222 Views
Post# 25886914

RE:RE:whats up

RE:RE:whats upI think this shows a serious rift between Lucas and the Board.  First off, the language in the press release announcing the management change last week was exceedingly blunt - Lucas was "removed" by the Board.  This is almost never used - even if he was fired, press releases would have him 'step down'.  

I think Lucas vigorously opposed the restructuring plan and was bluntly removed as a result.  ESW was pretty much forced to keep him on the Board as he holds (held) almost 10% of outstanding shares - some 9M+ overall.  By disposing during the blackout period and one day before the restructuring announcement, something he had to have known he was doing, he's washing his hands of the matter and saying I don't want to have anything more to do with the Board. 

As the lone non-ESW board member he was basically isolated anyway.  
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