Price drops like these occur for a reason. It's important for investors to discover the reason, and to keep probing until satisfied they understand the real reason.
- Sale of five country operations in Central Eastern Europe (CEE) to a significant shareholder, Heinzl Group, which raises some interesting questions of probity and continuous disclosure - if you're game enough to ask them, because Harry Boon will be very touchy about this subject;
- Sale of puny "consistently loss-making" operations in South Africa which raises the question: why was PaperlinX ever there, or remained there for so long? Other than it was perhaps an interesting junket for senior executives to visit;
- Toby Marchant was finally sacked - "the Board and I have agreed that it is an opportune moment for me to step down as CEO" which really means that belatedly Tosser Toby was tossed out with other loss making undertakings;
- Directors voluntarily took a pay cut of 15% from April 1, 2012. Why wasn't this disclosed 107 days earlier? Beware of Directors, who aren't Stakeholders, bearing gifts. This is a populist sham which suX expects Harry Boon had planned to trot out ad nauseam as evidence of contrition. Harry this is too little too late, and will be monitored by suX.
What the Stakeholders want to see is alignment of non-executive directors' equity interest in PPX as per Board Policy which you and others have assiduously avoided with Weasel Words.
- Reinstatement of Mike McConnell by some truly creative weasel words, whereby a director under the Constitution of the Company differs from a director under the Corporations Act - go figure. Finally, we have a convoluted and totally implausible answer to a simple question raised here since November 2011 and more insistently since June 5. See BIG LIE 1.01 re Mike McConnell. Did Wayne Johnston lie personally or on behalf of the Board?
It took your brains and great experience to right an obvious wrong after seven months of harassment, and even then, you revert to form.
Why is saving Mike McConnell so important to you? When we know that we'll know the truth.
Why did it take the board so long to announce an appointment of a director and why wasn't it announced to the ASX? Or does PPX want us to believe this constitutes the announcement, buried at the bottom of page 3. Very tricky behaviour unbecoming Tony Clarke and Lyndsey Cattermole.
This item opens more questions than it answers. It remains an open item on suX's agenda until further and better disclosure is made.
Either Wayne Johnston or the board is telling a pork pie here. BIG LIES, see here.
|No - you are still very ugly.|