Orion Health

[sharp]

He's putting a lot of his own money on the line - 15 million!!

Still this company is clearly in quite a bit of trouble. It's a bit of a coin toss as to where it will go.

Glad to see this from the sideline.

Has OHE stopped handing out new iphones and apple macbooks to its employees?

My thoughts are, why uptake on the share rights issue when it can swing either way... and geeezzz how will this latest capital raising last for? A year and a half before they run out of funds if they don't significant cut costs and/or improve revenue? Who wants to work for a company that is cost cutting? What's going to happen with the employees' morale?

I'd rather wait until OHE turns a profit and signs of scalability before investings then getting in now... I doubt it will be too late then.

[Balance]

No worries - cheap shares on offer soon - and maybe somebody big saving them still on the cards

Ian McCrae says, “I would like to take this opportunity to acknowledge that recent events have created a challenging time for our shareholders. We have made, and will continue to make, appropriate changes to improve business performance. At the core of our business we have an impressive list of prestigious customers internationally, modern scalable technology and our staff are passionate and talented. Therefore I remain totally committed to the business and have supported the Rights Offer to the greatest extent I can.”.

All hunky dory

For those of us cynical of McCrae, not a good sign that he is maintaining his death grip on the company.

Would have been much better off to have new blood in shareholding and management in there.

[mondograss]

Maybe, but he'd be damned if he did, and damned if he didn't.

[Balance]

Maybe, but he'd be damned if he did, and damned if he didn't.

To him, yes.

To the market, no. Market prefers he takes a lesser role given how he has well and truly spent $140m of IPO money to nowhere.

[mondograss]

I'm not disagreeing that he needs to let someone else be in charge, but given how people on this forum seem to freak out that the sky is falling in every time a director of even a profitable, well-run company, sells a small fraction of their shares, I stand by my comment.

[Arbroath]

For those of us cynical of McCrae, not a good sign that he is maintaining his death grip on the company.

Would have been much better off to have new blood in shareholding and management in there.

Interesting that Macrae is taking up just enough of his rights to maintain control - I work it out that he will reduce from 50.8% to 50.1%

[Balance]

Interesting that Macrae is taking up just enough of his rights to maintain control - I work it out that he will reduce from 50.8% to 50.1%

That is McCrae, true and through.

Those burnt will be unlikely to want to hitch of their wagon to his train if he is sticking to his 'I know best!

[BlackPeter]

That is McCrae, true and through.

Those burnt will be unlikely to want to hitch of their wagon to his train if he is sticking to his 'I know best!

The old adage "Why would the man who brought the company close to the ruin be the best to rescue it" springs to mind ...

In my view just more of the same to come.

[RGR367]

Having bought some at 2 bucks when I'm not prepared to buy then at their IPO price and just recently double up at 1 buck, I'm left with that only option to participate on the coming rights issue. It's been a punt after all and I could just say da pak of me trying to catch some falling knives But still, gut feel is strong on giving McCrae a second chance

[Balance]

The old adage "Why would the man who brought the company close to the ruin be the best to rescue it" springs to mind ...

In my view just more of the same to come.

NBR : "I'm just a software engineer", chief executive, director and 50.5% shareholder Ian McCrae tells NBR Radio when questioned about the bargain-basement price of the new shares — half of which have been allocated to him."

Inspiring confidence!