Smells more like Twiggy is trying to do a scheme of arrangement in this case. Once he removes the NED, there is no conflict to proceed with the arrangement
Net asset is c.$388m and Market Cap is $125m
He will probably club up with Bangarra / Bennelong + Paradice (maybe) to take over the company and sell it for its parts.
Ann: Director Appointment/Resignation, page-9
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