Ann: MGU Board changes, page-21

Manzoori holds positions at both First Growth Funds and Shape Capital, who have been involved in recent capital raisings at MGU. Lekkas holds a position with First Growth Funds too. So some non-executives who are familiar with the company at least. Couple that with the recent assigning of the new finance deal to Mr Evangelista individually, making him individually an ~5% holder instantly with the issue of collateral shares. With Shape Capital brokering that deal. Then those hefty performance rights proposals.
Can’t help but feel there’d been discussions behind closed doors between the financiers here about the existing board that led to the sudden resignations. Doubt we will ever know the true story, just have to remain hopeful these guys have intentions to bring in a replacement(s) with the requisite skill and experience in the steel industry to deliver on the project. No reason to expect they don’t have that intention given they individually, or their firms, stand to profit greatly from driving the share price up.