PaperlinX announced at 09:40 hrs that Andrew Price has been appointed a non-executive director. Warm congratulations to Andrew.
Why effective September 1, 2012?
- As explained in Note #4 to the Corporate Calendar, any sane incoming director would wish to have the FY 2012 accounts signed off before joining the board.
Note that Mike McConnell accepted his appointment exactly one year ago today, which goes to show how smart he is!
- This gives Andrew Price added authority for the remainder of his stay in the UK and Europe; and
- It allows Harry Boon to get his ducks in line for an orderly exit.
Call me paranoid, that's how suX sees it.
Some people may consider last night's posting an example of inside knowledge by suX or breaches of confidentiality by Andrew Price. It wasn't and let me be very clear on this.
Inside Knowledge. The posting When is EGM2 ? was made at 01:33 hrs this morning, Aug 1.
It arose from an email exchange, initiated at 19:49 hrs on July 31, by a "knowledgeable and keen observer" domiciled in the UK . His email opened with "Andrew's gone very quiet!" and closed with "Any sign of another EGM?"
After a couple of friendly exchanges it occurred to suX to address the question that won't go away. I sought consent to publish the words of this knowledgeable and keen observer. Consent was offered and accepted at 22:47 hrs. suX has lots of exchanges like this. Nothing exceptional here.
The posting When is EGM2 ? was published by Feedburner at 01:33 hrs this morning. I trust this satisfies everyone. Call it luck - I find the harder I work the luckier I become.
The next CEO? was published on July 22, 2012.
Two extracts from this post may assist readers better understand suX's level of "inside knowledge".
Timing: The board will be desperate to have the new appointee "on show" at the AGM in late October, and Harry Boon should sensibly want to exit by then.
- suX has no idea what Price's plan are (truly); however I can share this opinion. Andrew Price and Harry Boon are incompatible and wouldn't last five minutes on the same board.
- Andrew Price has been remarkably quiet in the OZ press recently so he must be up to something.
Insider Trading suX had orders for PPX in the market at 4.10 cents and 3.70 cents, placed on July 23, and removed this morning. If I had any knowledge of an imminent announcement about Andrew Price I would have bought. I didn't. In fact, this graphic
|Posted July 25, 2012|
It would have been nice to make 30% in nine days, but it didn't happen.
Because suX already has a substantial investment in PaperlinX via PXUPA, any purchase of PPX was purely speculative hoping to pick a panic sell bottom concurrent with yet another Cockroach Event, see here about Cockroach Theory.
Current View on PPX Share Price
Disclaimer: This is the personal opinion of the author and must not be construed as advice of any form. Also, to those who've written seeking my opinion of PPX or PXUPA as an investment, this is my response.
Everyone has plenty of time to get on board and make money here, just look at the corporate calendar.
IMO, and without inside knowledge, today's announcement probably means:
- Mike McConnell definitely won't see the AGM in October, and for that he keeps the $101,250 suX alleges he owes PPX;
- Harry Boon has probably 'done a deal' to exit with some dignity. suX even pencilled in a date for announcing his departure in the Corporate Calendar; and
- Dave Allen won't be the next MD/CEO.
The later explains why Dave Allen has been so shirty with suX. He recently blocked emails from suX going to PPX UK employees. Don't worry Dave, Google Analytics tells suX that your employees check the blog after hours.
- Anyone controlling > 5% can call EGM2, so this saga for control is far from over;
- Memo Harry Boon, did you hear Mr Market today; and
- Does this mean the end of PaperlinX-suX. NO!
|Congratulations on your appointment.|
Now the hard work begins.