close it down

If the Board of Directors were acting in the best interests of shareholders, they would put VDM into administration and close down the business, selling the assets.

NTA is 28 cents per share - shareholders would likely receive 25 cents per share after closing down costs. This is much better than the share price trading at 5-7 cents per share following the proposed dilutive capital raising.

Either the Board has not thought of this or they are not fond of the idea of no longer receiving director fees from VDM. Either reason is no good.