TOD I think you are missing the point in attacking Giles for not...

TOD I think you are missing the point in attacking Giles for not taking up the rights issue. The important point is that Havilah had a successful rights issue and retired their debt before this virus issue hit. This rights issue was not even underwritten and was backed by a couple of major shareholders and a lot of smaller shareholders - that seems like a pretty good outcome to me.

Contrast that with the previous "drunken sailor" big spenders who had no underwriter for the rights issue they were planning and no support from big shareholders. Imagine where that would have ended up? Maybe Investec seizing Havilah's projects or a Gupta "bail out" (= taking over Havilah for nothing)!

In any case, I researched Giles history and he has subscribed substantially to every other issue that I can see in the history of the company and I notice you don't mention that. Better play the game and not the man, then we might get some useful discussion here.