So it is certainly GOOD to know what TODAY an activist is and how they operate because RONIN dedicated a full pages in their PPHM ASM 2017 brochure to convince us they are NOT activist by telling us what "they claim" activists do and they do NOT do. Of course they omitted all the alternative that activist use to not do what RONIN claims they don't do and to hide in a more sophisticated way that they are activists.
--> RONIN does elect themselves to the PPHM BoD (no they NOMINATE 6 candidates for 7 seats to obtain an absolute majority).
--> They are concerned with Quality of the candidates BUT only their candidates are qualified, those found by other 3rd party companies specialised in find profiles are not good (yet all very qualified and experienced). Why? Because THOSE OTHER are not under RONIN's control and hence do NOT deliver 100% control to RONIN.
--> RONIN, just like PPHM, BOTH claim that they had NO previous contact with the BoD candidates BEFORE those candidates where nominated. Possibly but some other party, a 3rd party, might has well have made things clear because someone had to ASK such turd party to find candidates. That goes for BOTH RONIN and PPHM.
So conclusion, if RONIN wants 6 good candidates to RUN PPHM/AVID and as activists are NOT interested in full control but just good results, THEN 3 RONIN and 3 PPHM NEW candidates should DO. It wouldn't give them 100% control but it would remove DP, ES and CJ the main targets of RONIN and keep the team that got AVID winning 2+6 Awards, brought it 5 consecutive record revenue years, expanded it and we even more expanding it, in place. New blood, new ideas, new competences and new contacts in the industry.
BUT NO, NOT OK for RONIN. They need MAJORITY and now they also want everyone gone from the employees (at management level) that might interfere with there fast breadcrumb monetising of PPHM/Avid.
Quite ambitious for a shareholder that has been building the bulk of its 5%+ position only since H1/2017 and now is already profitable.
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