Ann: Notice of Extraordinary General Meeting/Proxy Form-CM8.AX, page-68

IMO,
Management should have been patient and let the business run its course over the next 2 years and focus on Track performance, Q and A model and reducing debt

Even though Track is performing at lower end of expectations - it would have been wise to focus on debt reduction using cash flows

It clearly looks like the market believes they overpaid for Track

The share price may have been stagnant for a while - but imo it is far better then resorting to more debt and dilution via a CN with so conditions and clauses not to mention 30 month timeframe

CM8 now is in a position that Debt almost equals Market cap

DYOR