Ann: Notice of Annual General Meeting/Proxy Form, page-17

IMO, it's due to the past performance of management. Many IPO/early day investors have been burnt and are heavily in the red. They invested in LRVs vision. Lots of games were played, considerable delays, results withheld and retail investors left in the dark, then suddenly the plan changes completely. Imagine investing money towards building an aquarium. Couple of years go by, moneys gone, there is no aquarium and suddenly we are building an art gallery instead and need more money to do so? Gotta be very careful who you get into bed with at this end of the market, no matter how great of opportunity presents.