It was as obvious as obvious could be - the board was setting a target in 2018 since they couldn't set another in 2017, and they knew they would miss milestone 3 and probably comcerned about milestone 2. So they needed a 2018 target and wanted to set it in such a way it guaranteed themselves a 100% chance and thereby cover themselves for the lost 2017 milestones. Plus there would have been nothing to preclude themselves from tabling additional targets at the 2017 AGM. Nonetheless holders saw completely through this ruse hence they retracted the motion. But the fallout for the regular market was simply that they then believed the price at end of 2018 would be 10c as a result. So the directors tried to feather their own nest, and as a result lost respect of many holders in doing so, and the market then punished their lowball 10c by saying OK, if that's the way you want to play it, we will make sure the sp is significantly lower prior to that date. The board did a tremendous disservice to investors as a result, and I for one believe the ringmaster was Glyn given his control driven actions at Agm's and attempts to silence Jeff at the same.
Unfortunately even with Glyn's resignation, the market isn't quite ready to forgive the various past antics and now demands greater surety in figures. Thanks Glyn for all that, but at least we can now move forward with hopefully a more transparent vision and accurate set of information.
(20min delay)