To me, the red flag was when all the shareholders let them retrospectively change the Managing Directors remuneration from being an absolute value of shares to a floating amount of shares tied to a dollar value.
= all reward and no risk.
An MD should be subject to share price risk same as his/her shareholders.
Who is at fault? all shareholders who voted for it, or didn't vote at all. If any shareholders here are in this category then, respectfully, STFU.
To me, the red flag was when all the shareholders let them...
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