The fact that the proposed directors do not currently hold...

The fact that the proposed directors do not currently hold shares in PET is a major concern of mine. From their biographies in Annexure A:

"Mr Bart was a long term shareholder inthe Company and has a good understanding of the

Company and its importance in theglobal need to control algal infestations"

And:

"Mr Newing was, until recently, along-term shareholder in the Company and has analysed and

published many reports on the Company.He has visited and inspected the Company’s

Chinese facilities."

My view is that, they will at some point want to raise capital and will probably do so by firstly consolidating existing shares, thereby reducing existing shareholder equity to an almost insignificant level. Freedman is the only shareholder that could influence this but, once delisted, he could sell privately prior to such an event ( assuming he would be in contact with the new board) to recoup some of his asset and we wouldn't know.
So I can't see that I have much equity left to save under the new board, and I had a significant holding. I asked Graeme Newing this very point but did not get a satisfactory answer.