What I find extraordinary is the management destroyed the company and its value and now have performance rights ect from a very low base and with this takeover will be rewarded in a big way . Really no risk for them and in fact nearly wiping the company out and giving themself performance shares at a low price has been far more rewarding . Granted they got it back on its feet and that I guess should be rewarded to a degree but the poor shareholders that have held prior to the fateful takeover of the Singapore company have been well shafted .
Ann: MMA Offshore Enters Into Scheme Implementation Deed, page-57
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