Digesting this announcement has been testing. What a...

Digesting this announcement has been testing. What a mess.
Firstly, I'm going to make the assumption that all existing Directors have to renominate annually & be reaffirmed by a majority vote at the AGM? If this is the case, then why are we just learning that the new Chairman & the very new Board Member are not standing for re-election? Biddle & Johnson would have been required to nominate or otherwise by 14th October, just like GW. Surely, this is material information for all SH & SH have a right to know who is nominating & who is retiring (not re nominating) from the Board.
Secondly, if Biddle knew before the 249D vote that he wasn't going to renominate, then we have played a lot of tactical chess to ensure GW didn't get up. Perhaps therefore, having survived the 249D he was full steam ahead & planning to stay?
Why then, post 249D, bolster your Board numbers only for you both to pull the plug a few weeks later? Doesn't really make sense....
But, no equity in TNG by NB...that now makes sense.
The "deferred" Capex announcement by PB that should have had any MD packing their bags...the timing & content of that made no sense.
These incoherent management responses suggest crisis. Suspect our key SH investor groups have called time on the current management?
My conclusion is that PB now has little control but hasn't resigned...more to come legally on that front.
What a disaster...but hopefully the decks will now be cleared?.
After 13 years, I sold down 80% of my holding when the terrible Capex release came. I'd held after the 249D.
I started buying again late today...but the project plan looks to have slipped big time.
I'd rather focus on some other well run ventures like CXO/RNU.
Good luck to GW all SH.
Jvest