Ann: Extension of Voluntary Suspension, page-43

Jo, just back from an overseas trip and catching up on this senario. Forgive me for over posting!

My opinion of FCW and his behavior is that he propably considered this ASX entity as his own business, all things considered and ran the business like a private enterprise. Ego, cronism etc no doubt played a huge role in his management and as a lawyer perhaps he thought he could circumnavigate issues thru his smarts and manipulation of issues unknown, while he was in control. All went pear shaped upon his resignation.
Having said all that it is my belief that the best outcome for SH would be if he is still involved. If bondholders get in control then little or nothing will be left for equity holders. If he does or can maintain control in some form then a board spill will occur whereby bondholders will have more access to operations and ultimately the croniizm will disappear and the coy will be run by someone with knowledge of the business without the power to operate as he has done in the past.

This is only my opinion