Buckland,
Why blame all the previous directors? The previous MD and Directors resigned before the sale was announced of IMI's business and only cash flow (in final trading Qtr it was actually cash positive, even though it was a short period). What does that say about their support for the new strategic direction?
The company currently no has no asset or cash flow, forcing on holders convertable note finance at credit card rates. Even though the decison was not supported by holders at the recent EGM, holders are further punished by more penalties and greater dilution (rights etc...).
As stated in the recent announcements, the people behind these strategic decision are the current Directors in conjunction with the underwritter, now lead manager, Patersons .
I am sure you can join the remaining dots by looking at companies like ZYL, CEO etc.
Cheers,
A
Buckland,Why blame all the previous directors? The previous MD...
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