As investors we rely on financial reports, presentations and...

As investors we rely on financial reports, presentations and representations made by the company officers, its Chairman, CEO, MD, BOD and investor relations executive.
The above have all touted the developments within PET and particularly very large projects promoted by the Chairman entailing significant revenue and concomitant results.
The main objective of that flow of information enables investors to make an assessment of the business and the investment merits.

Therefore, it is imperative that these reports covey information that reflects the economic reality of the business in a meaningful and transparent manner.
There are a lot of suppositions made on this forum and in the press, however, it may be best to await the KPMG report and further comment from the Chairman, his management team and the BOD.
It is the responsibility of the BOD together with the chairman and CEO based on the findings of the forensic audit to deal with any action against employees, directors or management and recoupments relating to misdeeds in whichever jurisdiction they are.
Without casting aspersions and demeaning the business there is under all the tension and frustration an organisation with processes and a product that is proven highly effective and much needed. Continually undermining the business is not in MHO constructive nor in the interest of shareholders and what should be the primary goal of restoring value.

The approach should be to achieve some form of restitution.
This could possibly be done by a recalibration of shareholding, which could entail the cancellation of bonus and other shares issued to parties operationally involved and the PET executives.
The issue of new bonus shares to shareholders who participated in the recent CR, as well as other shareholders, but excluding the company executive shareholders.
By issuing these new bonus shares this will result in a % uplift in the number of shares of all the non-executive shareholders in PET.
The basis of the bonus share distribution should take into consideration the CR as it is patently clear that it was mispriced.
The issue of new bonus shares as a form of recompense to ordinary shareholders should be well within the scope of the BOD and one that the ordinary shareholders will likely support.

This could be a fair method of compensation to stakeholders in PET and something shareholders on this forum may want to pursue and present to the Chairman who has a major involvement, still has a role to play as the founder and architect of the PET strategy, has extensive experience and presumably a legacy to protect, together with the BOD to explore and approve the necessary resolutions to give effect to the calculations and recalibration.