General discussion, page-7745

Left me wondering the same thing. You’ll probably recall that I commented at the end of last week (when the outrageous dilution proposed in the Recap was being presented here as a fait accompli) that it was going to be interesting to see who might come out of the woodwork over the weekend to give the board pause to rethink their actions and manoeuvres, both past & present.

Would be fair to assume that directors like Hepburn received quite a bit of unvarnished feedback along the lines of what @franky1 nicely posted in another thread here, as well as raising the eyebrows of the reg & stat authorities. A 70% discount and near tripling of SOI was never going to go unnoticed, especially so close to a demerger the ATO only just ruled on, regardless of whether the proposal was genuine or simply intended to flush out a takeover offer. Directors had better be absolutely scrupulous with every step they now take here imo.