The only effects of a spill I can see are current board members running like hell, and any future prospective NEDs taking one look at the company, its recent performance and the behaviour of its shareholders and giving it an extremely wide berth. In that instance we probably would end up with a board filled with lifestylers, amateurs and shareholder activists, none of whom with any idea how to progress the company towards production. No thanks.
I agree with your last point. JM should have been put on a very tight rein a long time ago. That didn't suit the purposes of Rhoddy and Big Ears, of course.
Ann: Letter to Shareholders - AGM Notice of Meeting, page-40
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