CMQ 0.00% 8.3¢ chemeq limited

turnaround story now

  1. 2,499 Posts.
    Haven't been in CMQ due to its dodgy management but am much more interested now with this latest announcement. The fact that Mizuho will appoint two of its nominees to the board, will have a say in who the new CFO and CEO will be, and are looking to overhaul the entire operational and marketing team, will ensure Dr Melrose does not continue to drive the company into the ground like he has in the past.

    That Mizuho will underwrite the $2.40 options to the tune of $20m is also encouraging. Share price currently sub $2.

    Back two years or so ago, a few broker reports came out with a $11+ valuation on chemeq. They never factored in the incompetence of Dr Melrose in corporate affairs - now that he's out of the picture maybe we'll start seeing some decent gains again!
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