Ann: Resignation of Director, page-7

Yes, it's true that this kind of mess will damage short-term sentiment, no doubt about it. We are already witnessing this with the slow decline of the current share price, which will be a costly affair.

I still believe that it isn’t just a simple takeover, especially with only 13.5% ownership. There are 2-3 other key shareholders, two of which are boutique small-cap funds in Australia. I don’t see them standing on the sidelines if this situation materially damages their significant holdings in the company.

I’ve read the correspondence from both sides, and there are valid concerns from both Grennon’s perspective and that of the current board. We, as shareholders, are not fools; we recognise the problems, and Grennon is simply highlighting these issues more publicly. We have all seen these concerns prior to this debacle.

I agree about the advertising front, potential acquisitions, and the possibility of discussions regarding OneRoof being divested. No one wants to deal with a board in the midst of turmoil.

It will take time to resolve this situation, and how costly and messy it will be is anyone's guess. The board has received a wake-up call, and you are correct that this has been a close call. I don’t believe that a complete overhaul of the board in favour of Grennon is ideal for all shareholders. Perhaps a mixed approach would be best to ensure that we don’t have a one-sided board that could make decisions solely in their own interest—which is my main concern.

I reiterate that I don’t believe Grennon will steer this towards a politically aligned agenda, like we see in other developed media companies. I think this is purely a business play. The company represents an undervalued opportunity, with solid assets and potential for future growth; it was an easy target.

This is what Grennon does as an investment banker. He likely sees value in the business beyond using it to promote any personal biases he may or may not have.

Then again, he is a billionaire. How long has he held his shares? Does anyone know? I’ve looked into it but wanted to find out when he started accumulating shares and how long he has been a shareholder overall. Forgive me if this is an obvious answer to uncover.

It is a shame, I entered right before all of this, and believed we were on our way to my valuation of around $1.16 but we seem to be slowly heading in the opposite direction after the half yearly.