Another day and another missive is issued by the board of Hibu (HIBU) ahead of its EGM on 4th December. Rebel shareholders are trying to oust the overpaid and under-delivering board and oppose a restructuring which will see shareholders lose 100%. I have noted before how the actions of the board in employing uber-expensive bully boy lawyers to try to scare off the rebels are despicable.
In this latest missive the directors, who will nearly all keep their jobs under the proposed plan, say that if shareholders support their strategy then shareholders will lose 100%. But they claim that it is in the interests of all stakeholders to support their strategy so shareholders should back the board. That is patent bollocks.
I happen to agree with the board that Hibu shares are almost certainly worthless. But let’s examine the stakeholders in this case with some gameplay analysis.
on Shareprophets | CommentsFiled under: