The first piece was an investigation into the group’s troubled 18 months as a listed company and how Booktopia fell out of favor with institutional investors. At the time of this article, Booktopia’s market capitalization had shrunk from around $400 million to just $24 million.
A second post, which revealed Nash’s reaction to the article on LinkedIn, including his response to age and Herald investigation that called Booktopia “nasty” in the eyes of investors.
“I don’t like being the bad guy in the investment community. There is nothing fabulous in that. Nash chronicled his relationships on the social media platform.
The sources said Nash’s message annoyed the board which had already agreed on a communications strategy when it comes to questions about the band’s performance.
Nash is expected to remain a director of the company. He also retains a 14% stake in the company.
Shares of Booktopia rose 3% to 32¢ on Friday. The rise followed a 6% gain on Thursday, when Nash’s sacking was announced. Booktopia is also carrying out a review of its business, including a cost-cutting program that has also included a series of company-wide layoffs.
Nash’s new LinkedIn post this week acknowledged the support he received after the board announcement on Thursday.
“RUOK? Thank you to everyone from afar who messaged me…I’m fine. I’m doing really well.
“I actually feel pretty good, relaxed and excited about the future. »
Nash, who is active on the public speaking circuit, said he would add a new slide to his presentation for his keynote address. “I have a new Bitter V Better slide. Our choice. I choose to be better than bitter.
He signed: “Entrepreneurs rock!
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