From memory I cannot ever recall you highlighting the speculative in this. In fact at times you appeared to be marketing the company and the board. I think there are times we all make mistakes but at that same time I think a mea culpa would have been appropriate.
The reasons the larger shareholders did not sell can be many reasons - not all of which are in fact based upon wisdom and at times unless you know how they came by their shares , the cost thereof and if they are receiving directors fees that exceed their risk in shares. All of these mean something.
My concern in this company has always been the many parties who have managed to fail. The first bunch that were removed by ERM. Then the ERM board which in my opinion , and in hindsight, never had the skills to get this sorted. Then they sold and at that time it just went onto another dysfunctional process - my opinion.
The tragedy is that Kane Marshall is CEO today and still listed KEY which was as I recall an offshoot to a large degree of EGO. So in fact the minnow survives the income generating EGO...
Blaming the inability to do a CR on the retail holders is in my opinion the final stab in the back that many holders will get... I just don't see how that can be. If there was clear value and they knew what to do they would have found investors willing to take this on. The dilution could have been huge but the retail investors cannot be to blame for what management did or failed to do.
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