If this doesn't answer investors questions of why everything is taking so long then I don't know what will. Just imagine how management feel when they think that they're are one step away from signing, then bang! - they are sprung with the board approval process. No doubt the additional layer of approvals would have been frustrating but I'm sure it was not as frustrating as getting part way through the approval and having the External Financial Review thrown on top.
I'm not sure if management or even other investors feel the same way, but I almost find the overview activities flow diagram to be slightly comical. Here we are, looking at timeline in a timeline in timeline and asking what's taking so long? If this doesn't make it clear as to why it is so hard to do business in India I don't know what will.
Nonetheless it is great to get a clear overview of everything that is going on. It would be a hard one to explain without the picture and an even more difficult one to believe if we were operating in any country but India.The point is, this elephant is still moving and will get to the end eventually - we just need to be patient.
Regarding the dates, its nice to have some clear calendar milestones to look forward to, however I would like to stress to other holders, particularly those who are new to this beast (welcome), these dates aren't the launch date of our little spec. Look forward to them but make sure you appreciate their place in the convoluted process of activities. They are likely to be delayed and furthermore, once they have been satisfied, they most likely won't cause much action beyond a quick update notifying shareholders that the final report has been complete and we are now onto the next step.
Until then happy spectulating.
All IMO
D
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