Yesterday's board meeting (CG 'stands down' and wants to sell shares)

[Calgacus 8]

I'm confused, I thought the meeting was this evening?

[BrahimHemdani 1]

Looks like someone wants a compromise.

 

Not likely...yet.

 

You could put it that way; but I think it's a fairly obvious attempt to divide the McCollCo and I think it might well succeed.

[Stimpy 0]

Remember and tell him what you did to one of the signatories to the requisition order.

 

Eh? What's this now?

[Anchorman 0]

You could put it that way; but I think it's a fairly obvious attempt to divide the McCollCo and I think it might well succeed.

 

IMHO Frank Blin and McColl will only split if McColl thinks having Blin on the current board satisfies his requirements, which I don't think it will. They won't be divided as they've come too far together on this. I think Frank Blin is only one corner of Jim McColl's canvass, albeit a very important one. And Blin is nobody's patsy.

[Zappa 0]

Murray may well be replaced but they'll still want the others removed.

 

We'll see.

 

Paul Murray is probably the type of guy who would step aside and out of the picture if necessary, but it would show weakness for McColl & co to agree to any compromises this early in the battle. I agree that McColl & co will still want the others removed. No doubt about it and I can see it going to an EGM.

[BrahimHemdani 1]

IMHO Frank Blin and McColl will only split if McColl thinks having Blin on the current board satisfies his requirements, which I don't think it will. They won't be divided as they've come too far together on this. I think Frank Blin is only one corner of Jim McColl's canvass, albeit a very important one. And Blin is nobody's patsy.

 

I agree with that; what I really meant was split them off P Murray, who is small fry compared to Blin.

 

MColl doesn't want a seat on the Board, so my guess is they will jettison Murray and accept the offer to put Blin on in exchange for Stockbridge and perhaps Mather, thereby avoiding the open warfare of an EGM.

[Doc 280]

Stockbridge ought to be toast given the way he doesn't seem to have a clue how much has been spent and what it's been spent on. Surely it's just a matter of time before he is given his cards. We can't go on with him and still retain any credibility with investors.

[Anchorman 0]

Paul Murray is probably the type of guy who would step aside and out of the picture if necessary, but it would show weakness for McColl & co to agree to any compromises this early in the battle. I agree that McColl & co will still want the others removed. No doubt about it and I can see it going to an EGM.

 

Dave King is not going to be under the radar forever, but he may well go off the radar completely if a half baked compromise is reached. He wants to invest serious money but not when there is even the remotest chance of anyone taking their slice of it. He trusts the McColl team. He doesn't trust the current board. McColl knows investment is absolutely crucial moving forward. Why let your biggest investor (by far potentially) walk away just to avoid the conflict of an EGM? Doesn't add up to me.

[Tom Davison 0]

Adding one good guy to the board will change nothing. 3 off and 2 on is a swing off 5. They want a swing of less than one.

 

Its pathetic.

Read the statement again. It is premature to believe that there will be a swing of less than one. Pathetic! Compared with much that has been happening for many months now, what is a holding statement is hardly pathetic. If the eventual action is inadequate, along with others, I will identify with the description "pathetic" but surely it is not unreasonable to allow time to see what the outcome is.

[Anchorman 0]

I agree with that; what I really meant was split them off P Murray, who is small fry compared to Blin.

MColl doesn't want a seat on the Board, so my guess is they will jettison Murray and accept the offer to put Blin on in exchange for Stockbridge and perhaps Mather, thereby avoiding the open warfare of an EGM.

 

What will McColl have gained from that? Blin could find himself in constant conflict with the the current incumbents\clique, and outnumbered. McColl knows this is his chance or never. If Blin is given a hard ride by the present crew McColl won't go through this whole scenario again and try to garner support among investors for another EGM. I'm no corporate Guru but with my limited knowledge that's the way I see it.