1. The funding should have been secured beforehand. No amount of excuses for interminable delays can deny the fact that SDL was dealing with the wrong party. And the Board is accountable for that.
2. The board has failed to keep shareholders properly informed, including today's very limited disclosure.
3. The board has been too close to Hanlong. There is absolutely no evidence that they have tried to interest other bidders. If there is such evidence in the last year, they should at least leak it through their standard sources.
It is very simple to complain to ASIC and it is now time for shareholders to at least make a statement.
SDL Price at posting:
34.0¢ Sentiment: Hold Disclosure: Held
