"The Chairman advised me to seek further revised terms which I warned would destroy the deal and potentially affect the Crux financing. I said that as a director I could not support this decision and if the deal did collapse I would have no option but to resign from the board"
"advised" ???
were these revised terms put to a vote following Richard's warning?
where did the rest of the board stand on this?
no formal vote on something so crucial as the potential collapse of the deal and threatened resignation of Richard ???
what about a vote (following the rejection of those revised terms by the potential farm in partner) to proceed with the proposal under the original board parameters?
or did everyone just throw their hands in the air and give up ???
more questions that really need to be answered.
NXS Price at posting:
19.5¢ Sentiment: None Disclosure: Not Held
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