The major holders followed their rights in the 2018 equity...

The major holders followed their rights in the 2018 equity offering at NZ$6.19 per share, so i'm sure they're feeling a bit sick at the moment given they're >50% underwater only 18 months later. There's a couple strategic, PE people on the board (Clifford, Hg) who own in the order of 20% of the equity between them, so i'm pretty confident they're not just going to sit around and watch Rome (and the value of their equity, which is a big chunk of Clifford's personal wealth) burn - if they can't fix it, they might sell it, but they'll definitely try fixing it first.

Reading the tea leaves, i think there's a chance the CEO will be shown the door shortly, and Darc Rasmussen will step into his place - Rasmussen has directly relevant, recent CEO experience, so him showing up as a Director only a month ago just as things were unraveling looks like a classic PE-style move to me (i.e. clean out underperforming senior management, replace them with industry veteran).

Thanks for condolences but i'm completely unfazed, it's part of investing.