Not a lot is making sense here. The company seems to be have blindsided by this and is scrambling.
Regarding a seat on the Board for Qatar, Cathay are saying they are not aware of any requirement to give Qatar a seat and they do not foresee Board composition changing. How can Cathay be "not aware" of their own Rules? I must remember that gem on my next Linecheck......
"Well young Gallagher... Let's have a brief chat about Fuel Policy...
Sorry mate, not aware of the Company Fuel Policy... So let's not"
Frogman... I don't understand why Cathay would need to issue more shares. They didn't when Kingboard owned the shares, so why would they need to when Qatar owns them?
Here's a conspiracy theory for you - perhaps Qatar was bank-rolling Kingboard and using them as a front and had Swires sold to Kingboard, Qatar wouid have bankrolled that as well, then Kingboard would have sold to Qatar and Cathay would have become a Qatar/ Air China owned airline. To really spice it up, perhaps Qatar and Air China were in cahoots and used Kingboard as a stalking horse to get rid of Swires......
Got to go, there's an Arabic looking gentleman knocking on my door... I wonder what he wants?