There is every reason to moan here. Especially after the Board went against shareholders by slipping Hegarty $8m (from memory) at their discretion, after shareholders voted down Hegarty's proposed golden-handshake. And he still has to sell stock to pay his margin calls!
The merger document was a farce, the rational behind the merger was nothing more thought out than big is beautiful and we'll work it out as we go along. No synergies, double the size of the Board (can't have anyone missing out!!) Feed the ferocious appetite of a raging bull market.
Now when things get tough, the true quality of the assets and management come to light.
At the very least OZL could make money by selling the movie rights to this complete debarcle if the shares never come back on.
OZL Price at posting:
0.0¢ Sentiment: None Disclosure: Held