RED last announced that an offer of employment would likely be...

RED last announced that an offer of employment would likely be made to the most appropriate candidate for the position of managing director by the end of 2012. As it is now the 15th January it would seem to appear that REDs first choice is no longer available or the contractual terms are not adequate.

As an aside the former managing director stood down 2 months ago on the 15th of November and the three remaining directors have little skin in the company, owning less than 50k shares (direct and indirect) between them.

My confidence in the commitment and/or skill of the remaining directors is declining.