Ann: Quarterly Activities Report and Appendix 4C - Dec-23 Qtr, page-228

It was a poor decision to shaft the CEO who it seems was targeted as a result of the board spill. It was compounded by forcing out the CFO because the Chairman, rather than provide guidance to the management team which is the role of the board, wanted that job for himself.

The old board and management at least provided guidance and gave shareholders some insight to what was happening and something to be measured by.

The new lot will not give any indication of future performance for only one reason - they don't want a marker by which they can be measured. There are already some supporters who are saying let's give them a couple of quarters. And then what? Turf them out as well? Certainly the old CEO wasn't given much time before a board spill was called.

This new board and management have no magic bullet. This has been an epic own goal and has put us back 12 - 18 mths - and now I am thinking perhaps longer.

Support them all you like - SP tells the story.

The end of 2024 will be 18 mths from the call to spill. I am now thinking it will be at least the middle of 2025 before we are back on track.

As far as previous experience - was he responsible for current NAN performance? Did he see it coming? Was he pushed? Or was he just a CFO without his hands on the wheel just his feet on the brake and jumped.