Ann: Director resignation, page-11

Sacking a non-executive director at this point in time when financial negotiations are at a critical point, is a desperate attempt to appease the market. IMO, it will not energise the market one iota.

Sacking a non-executive director, someone whose role is primarily advisory and not important decision making, is purely symbolic.

NRZ is broke. It is racked with debt and has a Current Ratio which is so bad it must weigh heavily on the BOD and in particular on the CFO.

Its disposal value would be hard pressed to cover administrator's fees and secured creditors, let alone anyone else.

The BOD, over the last couple of years, has allowed all creditors to be boxed into a corner. Unfortunately, they're now stuffed, unless the company rises from the ashes. If you are banking on a Partner to appear, then good luck with that. Hope is all you have.

IMO. J L.