Pure Profile chairman Andrew Edwards survives attempt to fire him from board
A truce has been declared in the battle for control of online research and digital advertising operation Pure Profile, with maverick shareholder Oceania Capital Partners granted a board seat and withdrawing its attempt to fire executive chairman Andrew Edwards.
In an update to the ASX this morning, Pure Profile also revealed that it has backed down on its attempt to withhold its final earnout payment to OCP for the purchase of lead generation agency Cohort Global.
Earlier this month Pure Profile had claimed that when it agreed to buy Cohort from OCP for more than $25m in September 2016, it had been misled about the company’s health. Meanwhile OCP had claimed that a final earnout payment of $1.4m was due.
The bitter battle saw OCP – which became a shareholder in Pure Profile as part of the Cohort deal – launch a public attack on the company’s stewardship under Edwards.
Andrew is a good man and an excellent business person.
It’s Pureprofile
Compo day
Good effort on lowering the stock price mate.
This company is a mess with no clear roadmap for success articulated.
With their cash flow at dangerously low levels, it’s only a matter of time before creditors and suppliers break down the door and this company folds.
Met Pure Profile with Paul Chan in charge, completely out of his league in a public company, and they’ve bought in the cleaners way too late. The old and new mess is all over their shoes and being tracked through the tired old carpet. Goodnight nurse.