i agree that the announcement was not worded very clearly - but keep in mind only on Nov 28 (the day before the AGM) did EML gain approval to reconstitute the PCSIL board - up until then, they had been laboring under the legacy board (irish bureaucrats with sinecures and no intention to move fast and risk their salaries) - without any of the EML parent directors on the PCSIL board!
Thanks for this insight, @puppyeh
The thing I couldn't work out was why PCSIL was going through this remediation process when the logical thing to do was shut it down. I didn't realise the board was actually an impediment to this.
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