refuse to lay down, page-18

Beejay - I used to talk with CL fairly regularly via email when he was running Neptune and I don't think he had any idea Neptune was going to struggle with refinancing its debt though I do not forgive him for what happened to all my many hundreds of thousands of dollars invested in NMS I lost. One thing CL did say after he walked out the door is that while he was on sick leave for a few months early 2009 the old chairman and directors made some terrible decisions which gave rise to many of their problems. I know CL took the collapse of NMS very hard and took it personally as well. I had been with Neptune since listing and had talked regularly to CL via email during all those years. CL also acknowledges purchasing the STS business was bad timing. I also believe the owners of the businesses CL had bought since around 2006 but who were still running those separate businesses did not integrate well into Neptune and I think he regrets not sacking the owners when he bought the businesses and replaced with new blood who wanted to make Neptune a truely world class organisation. I believe he could have done it but he had the wrong people working for him. This is what happens with bolt on businesses though,if you dont get the right people working for you, it will bring down the company and it did. The cap raising with RK was always to just get Neptune out of trouble to retain their employees and certain businesses in readiness for takeover IMO.