Ann: Termination of Binding Agreement, page-239

I think it's worth remembering that Hamish has more 'skin in the game' here than probably anybody (see table below) - I'm sure there's a T20 list available somewhere, but it's not overly important to my point. There has likely been a combination of mismanagement, wishful thinking and bad luck(/lack of due diligence), but I don't believe there's been any malicious intent to screw over shareholders.

That doesn't change the fact that things have turned south and we deserve answers. People were mostly willing to overlook to poor communication to shareholders when things were seemingly going well, but in times like these GMC really need to pick up their game and be accountable for their mistakes. Here's hoping they do so with the announcement later this afternoon.

On a small side note, how many of the conditions have been met for the performance rights the board gifted themselves last November? I believe #3 and #4 have, but I'm not sure about #1. There was an outcry at the time, but it seems especially ridiculous now that they've potentially received 18 - 27 million shares to lead us to the position we're currently in.

Performance rights



Director interests



Director salaries