@Parko5 I'd be surprised if he did. It would seem out of character,... but then again I don't know the guy from Adam.

He'll have taken advice from legal counsel to see if he has any other recourse (which it would be normal to have done anyway, during the exit discussions.) In my experience, companies will pay up if they can reach a severance agreement, which usually includes a mutual, non-disparagement clause. For whatever reason, the Board weren't willing to pay his price. (And I can tell you I have seen some eye-watering settlements over the years that made me nauseous!)

But in this case, it looks like he exited with nothing other than contractual entitlements (if I read the release correctly) with no severance agreement as you say.

He might be mulling over if he has grounds for a wrongful termination action. In that case he would be well advised to keep quiet. But if he decides just to head back to retirement in Florida (or was it Georgia, I can't remember which) then maybe he will say something.

Frankly, I think he'll maintain a dignified silence and just be happy to see the back of DW. This was a clash of cultures, leadership styles, and lack of role clarity from the outset,.. is my guess.

So how go the shorts? Still nudging up, as of last Thursday. Price action has seemed to stabilitise, so I'm guessing the shorts have flattened off or even closed some positions?

SP is looking attractive for a Takeover if the SP languishes at this level. Acquirer gets the revenue, wipes out 90% of the corporate overhead, integrates sales and marketing with existing sales forces (further synergy of maybe 20-40% depending on the acquirers product portfolio).

The economics are compelling. 90-95% gross margins; manufacturing expansion locked in to $500m - so $0 capital expenditure for a few years. Wow.

Let's say acquirer pays a 50% premium ... then it might make sense around $1.80. I think DW would take it, as he must have a better view of the competitive reality than he is letting on? (A takeover offer would create a lovely shorts barbecue!!!)

I'm sure the Investment Bankers are working the phones and the pitch decks are flying all over the world!

Maybe this is all part of the J&J / Swami plan to buy it on the cheap! Joking of course….

im tempted to roll the dice and buy back in soon.

• PNV is valued above current SP ($1.50-2.00) based on current circa $130m p.a. In revenue. (Numbers just a guesstimate).
• Takeover is more likely now than ever.
• what other bad news could there be?

BUT

I got this from HC. Interesting to see the flows during the last week during Swamigate.

the post on HC also had the trading for the last year. Broadly they said that retail had been selling to professional funds. Then it changed after H1FY25 Report came out. The professionals/funds then must of kept their forecasts high (because they haven’t really lowered them much) and are quietly selling out. Bastards!!

If the institutions are leaving….it will become more volatile again.

it was interesting though that Fidelity took a large PNV position not long ago (before Swamigate but after H1FY2025) So that would be against the trend

so confused!!