1 April 2016 – response to requisitionists
There have been announcements this morning by ‘the requisitionists’, i.e. Slater Investments and Steve Rawlings, and the company in response to this. The company has said that it will issue a more detailed response on Monday but it is clear that the two parties will remain at loggerheads until the General Meeting on 19 April, unless there are major developments which lead to the meeting not taking place. At this stage the crux of the battle is who should be Non-executive Directors. This is an unusual situation but we feel there is potential for shareholders to benefit from the struggle for control. SPECULATIVE BUY.