Ann: Appointment of Voluntary Administrators, page-11

Lucky it is not Korda Mentha with massive admin costs & certain RIP.
As a past PAN SH & current IGO SH I admit I was a bit perplexed by the PAN BOD quick rejection outright of the IGO offer, especially when PAN is between a rock & a hard place. Why not let PAN SHs decide? Just suggesting maybe another series of discussions with the administrators & IGO is warranted.
PAN has serious resources that will be used when the market recovers, whereas the BOD will come and go.
GLTAHs