It does seem somewhat strange that the company didn’t sound out...

It does seem somewhat strange that the company didn’t sound out the major shareholders before running the offer. It was always going to be poor received if they weren’t going to take up the offer. The offer wasn’t underwritten at all without the directors up take it wouldn’t achieve much more than petty cash for a few weeks. So the question is why did they try again only six months after the last one: which was also poor received. But was made with while by the Doc’s underwriting.

From the outside looking in it all looks a bit of a shit show. I was it blind faith on behalf of the directors or I was it a necessary process to get others involved?