The 2 Australian directors aren't the cause of the problem here.
Change of use of the funds before settlement is the problem - I'd suggest the 2 directors who know Australian company law may well have disagreed with this change. Or at least known the implications of the change.
Given the original company update didn't mention a supplementary prospectus I think this may have been unexpected for the remaining directors.
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- Ann: Supplementary Prospectus
Ann: Supplementary Prospectus, page-85
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