Correct. That is likely the major reason why the share price is lingering so low. It's probably prudent to consider launching an s249d notice to remove both the MD & chairman. The company needs new blood that the market can place actual faith on. Combining holdings from Cap H, Cyan and Segman, there is more than enough power for this to happen. Wouldn't be surprised if this does eventuate in the near future.
SCL Price at posting:
1.1¢ Sentiment: Sell Disclosure: Held