Ann: Vital Announces Board and Management Changes, page-120

Initially I was shocked on this ann - it's not a positive sign when the MD gets the boot. This came on suddenly, so there must have been something fundamentally wrong with Geoff's plan and performance that hadn't surfaced publicly. Though this could be seen in the SP.

Lionhead would have found this when doing their DD, but kept quiet in order to get the CR through and remove Geoff. You don't become a cornerstone investor if you think the company's a dud, and fixing an issue around leadership is relatively easy.

We'll likely go sideways while our interim CEO finds a suitable replacement, but eventually they'll find someone who'll generate a return on their investment. Someone like Russell would have a lot of connections.

The jurisdiction's good, location's great, demand for the product will continue to rise. In the hands of the right people this thing will pop.