The abandonment of the ASX case was the best decision. The initial purpose was to get the ASX to lift the suspension but as the ASX went on its reckless capital-destroying agenda, damages were added. That initial objective has since been met through the demerger, which was overwhelmingly approved by shareholders.
Hopefully, you are aware (if you really are an investor) growing the company is the more important step in restoring shareholder wealth than expending the little capital available on a court case that potentially could drag on for years, particularly when the key objective had already been met. The fact the company had no access to capital markets made this even more important.
This has nothing to do with defending JK. It's what a responsible board would do.
SP1 Price at posting:
$1.07 Sentiment: Hold Disclosure: Held
