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


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I don't know that it would be portrayed as "casting aside". If they get 2 of their 3 targets, they might settle for 1 on 2 off rather than the turkey shoot of an EGM in pursuit of 2 on 3 off. Then it's just Paul, would you like to stand aside for the good of the Club etc etc.

 

There's no doubt Paul Murray would stand aside if the need arose, he publicly stated that last time around.

 

However that would only be temporary measure at best.

 

Why would McColl go to all this trouble to and settle with a deal that leaves the present dysfunctional board holding power?

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There's no doubt Paul Murray would stand aside if the need arose, he publicly stated that last time around.

 

However that would only be temporary measure at best.

 

Why would McColl go to all this trouble to and settle with a deal that leaves the present dysfunctional board holding power?

 

A very fair question that only he can answer.

 

But I would liken it to a chess match. Both sides are prepared to sacrifice pawns e.g. PM on the McCollCo and BS/CM (perhaps off the Board but not the CEO position) on the incumbents side, in order to gain an advantage but both may have to agree to settle for a draw, at least this time around.

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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.

 

Absolutely and I'm sure Jim McColl didn't build up his successful businesses by giving in to or compromising with chancers in tough situations.

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A very fair question that only he can answer.

 

But I would liken it to a chess match. Both sides are prepared to sacrifice pawns e.g. PM on the McCollCo and BS/CM (perhaps off the Board but not the CEO position) on the incumbents side, in order to gain an advantage but both may have to agree to settle for a draw, at least this time around.

 

If he settles for that he may a well not have bothered.

 

It might be bloody, it might be messy but the simple fact is the board needs cleansed not more of the same.

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Personally I don't like my club being the subject of some poker game.

 

It might be messy and it's likely to get even messier before this is resolved, but SpivCo need to go and the club board needs cleared out to a man and replaced with a more suitable one.

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