The three main founders of Teklogix had, as you might expect,
an inter party CONTRACT, never to sell their shares, in a way
that would damage each others interests.
Bernard Clifford, as most of us know already, retired from the
company, over a year ago. If he is still a director, then that
is a nominal position, and my understanding is that he ceased
to be active some time before the turnaround in the company's
affairs,and it was only a matter of time before the new CEO
would seek to reorganise the Board, and surely out of respect
to the founders, give them their choice of when and how!
It is a fine testimony to the sensitive management of the
company, that recently, a shareholders protection agreement,
was put in place, and while the small shareholder may have been flattered in thinking it was primarily for him, its purpose
was to facilitate the retirement of (such as ) Bernard Clifford,
without damaging the company, or his co-founders and successors.
Everything changes, nothing stays the same, and the new CEO
quite obviously, can cut the ice, and is very well advised.
They know the company will be double its size next year, and has
STRONG growth in all sectors, with HUGE results coming up,
any opportunity to prune the roses for next years blooms, can
and has been taken while the time is right.
I for one understand how hard it is to say goodbye,
and some cuts have to be well planned but when they are made
thay are total and clear!
The IrishWireLess!!! |
