Ann: Issue of Placement Shares and Options to Directors - Appx 3B, page-32

How can Hunterr even begin to blame Michael Malone when his position was that of a non-executive chairman!? Especially after having aggrandised him so much when he was first assigned. How fickle can a person possibly be? A non executive chairman role is to act as a liaison between the board and the CEO/managing director, nothing more, nothing less. The role was redundant for a company the size of SAS and I have raised this exact issue at the time of his assignment that he might have been picked for vanity purposes in preparation for a CR, which seemed to came true. All in all, besides his relatively short tenure within the company, Michael Malone has no say in the decision making nor the direction of the company due to the nature of his position. All of the decision making and execution responsibilities in the company fall upon Meir Moalem as the CEO and managing director. So if Hunterr wants to blame a single person the he should have blamed Meir instead or both him and Michael Malone. The company was in horrible shape even before Michael Malone came in...so it is untenable to blame Michael for the current situation. I am baffled as to how Hunterr could possibly lay the blame solely on Michael...to begin with the primary culprit is Hunterr himself for putting in every dollar his family has...I mean had...into the company. He had no one to blame but himself...