here's my take on the last few announcements

Firstly, I have to give credit where it is due and say I am pleased to see Richard Sealy on the board, I've never heard of him so don't know if he'll add much value or not, but at least he has experience on listed company boards. Hopefully that means he'll stand up for good governance, and not allow Tyree to run the show on his own.

Now on to the negatives:
* on the subject of board appointments, how convenient that Sealy was appointed immediately after the AGM, and Snape resigned then was reappointed a couple of days later (after the AGM). That way neither of them have to face the shareholders for almost twelve months. That to me is utterly cynical, and shows contempt for we shareholders.

* I Notice on the latest Appendix 3B (more on that in another post) that there are still over 22M options on issue. Reconciling this back to the number of options that were on issue per the most recent Annual Report, I reckon Ian Clark still has his 6M options, which suggests he won his case against Tyree for unfair dismissal lock, stock and barrel. I may be wrong, but I'd have thought he'd get any cash he was chasing before the options were granted, so I'd reckon the dismissal of Clark by Tyree cost the company several hundred thousand dollars, including whatever legal expenses they incurred.

* mawoode, I think you need to take your rose-coloured glasses off (in reference to your post about the 'teaming with Accenture' announcement. Sure there may have been a lot of MOUs under Blomfield that went nowhere, but I suspect they were obligated to release all of those under the rules of continuous disclosure. In this case, all they are announcing is that they've put a bid in for some work. Whatever Blomfield's faults, I can't recall ever seeing an announcement in his time where they told us they were issuing a quote!

* Good to see Scully-Power has been disposed of (does he count as more dead wood, jwt?) However given there is no one CEO, who represents the company? Who will speak at the next AGM? Who sees brokers about raising capital? I can already see Tyree putting his hand up next year for another few million shares for 'additional work'. What are the chances we can get confirmation from him that he'll not be seeking another free handout next year?

* It has occurred to me, with al this talk about a 'new team', that (as gar as I am aware) there have ben no new management appointments in the last two years (among the remaining staff). In other words, there have been a lot of departures but nobody new. Cutting costs on the face of it is a good thing, but who is actually selling the company's products? There's an old saying 'you've got to spend money to make money', so if you get rid of all your sales people it does seem rather counter-productive.