Well Billy that's great that you reckon Andrew is a great fella....

Well Billy that's great that you reckon Andrew is a great fella. And he might very well be. I don't know him. In fact I don't know any of the players.
But the fact is he is an APAC representative and as such would have been party to a separate funding proposal put to ABM.
The TO Panel quite rightly picked up on that and related it in their decision on page 2 (8) for everyone to see. This is damning of APAC and can be glossed over but is in black and white. They said:

"On 1 February 2016, APAC submitted a proposal to the Board as an alternate funding option in connection with a renounceable rights issue at $0.015 per share to raise $14 million and to be fully underwritten by APAC". That means the issue of 933,333,333 new shares in ABM. "The APAC Proposal was amended on 19 February 2016 to increase the issue price to $0.0225 per share." That would mean an issue of 622,222,222 new shares in ABM. That is serious, serious dilution.
And we are all spewing about sitting on 4.3cents atm!

Based on those figures, benefactors and knights in shining armour they are not. They appear to want the board and the shares as well at fire sale prices. Why is 4 cents a share giving the farm away, but 1.5cents - 2.2cents plus the whole board is a great deal for us shareholders. I don't get the logic. Forget the emotion, the numbers are there for all of us to see. That will be what we poor suffering shareholders are going to get, rest assured. Unfortunately, I see that a lot of us, me included (after 3 years) are burnt and want retribution. I understand that, but at what cost?
I am thoroughly pissed off with the whole business of the last 12 months, but I am not going to succumb to emotion and rhetoric when I have no better deal on the table. I have tried to stay logical through all this.
When I sum it up we had a proposal of x and APAC put an alternative proposal of x-2, and wants full control of the board as well.
Okay if that's the way it crumbles, I live with it. What can I do?
Like everyone the little capital I have will be halved.
I have tried to take the emotion out of it and if I was to ask someone outside what would be the better deal 4 cents or 1.5-2.2cents plus all the board, I am sure what they would advise. I will be guided by my head rather than my heart.
GLTA
PB