1. announce full strategic review
2. achieve zero from full strategic review
3. publicly announce MacQ re-finance ahead of closing, so MacQ put Tap nuts in vice on terms
4. bail out of MacQ re-finance
5. attempt above placement on own with no broker support (that's telling...)
6. place stock - $2mm out of $7mm desired. look for rest through SPP - I wonder whether Chatchai will apply for his $15,000 worth?
7. any money raised goes straight out the bank to keep the facility they told the market they were getting out of, alive and to not be in breach of terms
8. appoint new board member presumably incurring more director fees as no present director is stepping off
9. employ largest shareholder/new board member to renegotiate BNP financing thus incurring more fees and seemingly admitting they don't have the capability to do this themselves
appreciate they have hit some serious headwinds with the oil price environment just as a really nice asset came on stream and Chatchai has created a great many problems, but come on. a big change out needed - maybe that's Risco's plan? Time will tell.
The SPP will be telling - holders voting with their wallets.
TAP Price at posting:
19.5¢ Sentiment: None Disclosure: Held
