sack the board, page-24

MJ and other 8 indep directors

having recommended the $5.45 offer those concerned should now head for the exit doors

apart for a few investment banking and other professional egos (and their bonuses)taking a beating this whole sorry saga has highlighted a number of issues

1-corp law 3.1 continous discloure worked well in the in the interest of the investment world
2-the bid was grossly undervalued once the qan announced positive eps going fwd
3- on the back of the qan announcement MJ and other 8 indep directors still backed the offer on the table of APA

this in my humble opinion was a great mistake because as we all know eps growth from qan and other airlines is primarily driven by:
1-bums on seats(load factor)
2-oil price
3-cost control
4-hedging

not to come out with a statement indicating a revised value for qan in light of the fwd eps might seem to indicate they don't know what a revised value for qan is worth now and in 6 mths time because clearly the financials have improved

strip out the emotion of holding on of this countries greatest compaanies with the global flagship name at the end of the day you didn't need to be an avaiation/investment research analyst with multiple degrees and a phd to realise that $5.45 cash for qan DID NOT represent TRUE value