I'm actually pleased with the announcement.  They got rid of CEO...

I'm actually pleased with the announcement.  They got rid of CEO and CFO.  Gives them more of a clean slate with the regulator. 

They have clearly touched base with and consulted with institutional investors. 

They are reducing costs immediately so less cash burn.

And they now have some breathing space to come up with a new business model that the regulator is fine with... so there is something positive to look forward to by way of a future announcement. 

Existing book is solid in short term. 

More chances of st Andrew's going through as regulator will review their proactive approach as a positive.

imo.