Achievements met by Management, page-6

I think that the resignation of Heading is genuine. He has been Chairman of partners at MCR for quite a few years and there is nowhere for him to go, career wise, except to an international firm. These firms are likely to have pretty firm rules around external directorships. It looks like a purely personal decision to me. Heading has stood firm through some turbulent times and, as far as I can see, has served shareholders very well. We can't hold him prisoner.
The assets of IVX are certainly excellent and the directors have mades the right moves under very difficult circumstances. There is no certainty, but an excellent pay-off for people investing at these prices looks likely.