I agree mmmmgus, on my read, it looks like Paul Salter (one of the ex-Non Execs) teamed up with those other (now ex) directors to try and take control for their own personal gain - seems like Paul has a history of similar plays.
See this: http://www.asx.com.au/asxpdf/20130617/pdf/42ghmvhd800nkl.pdf
Thankfully the exec chairman Gary Cohen stood up and protected shareholder interests by stopping those muppets in what could only be described as an amateur attempt at a hostile takeover by a couple of board members that would have only destroyed shareholder value IMO.
IVO Price at posting:
7.0¢ Sentiment: Buy Disclosure: Held