Gee, the BOD are great investors.
Committed to a raise at 46c (would be fraud to not follow through) that now looks like could be 50% under water before they have transferred the funds in.
The Listed options will likely get an absolute caning, been a bit surprised at there resilience to date.
I don’t quite get that it’s only $10m. By the time they hold the EGM to approve they will likely be low on coin again and another round. Those throwing coin in on this one must surely be doing the same sums.
i did see JP at RIU, he looked a bit down in the mouth, and can understand why. What a debacle.
They seriously need a new Chair to come in a guide them, because what is occurring here is a travesty.
While it’s good to have Management with skin in the game, this becomes problematic when it comes to making changes.
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