STX offer guessing game, page-77

It would be a very narrow focus to be only a departure due to a potential STX deal several months away imo.

My feeling is that there was likely a ruction at the time of the last capital raising, which as many recall and debated here, was completed at a discount and conducted instead of debt financing.

That fits into the time frame more straightforwardly as the exit was not long after that.

Greg Columbus would have been the obvious pick, with Chair experience and Perth Basin knowledge from WGO times.

Further with respect of Nero, if indeed Nero was selling on market when the takeover effort by STX stalled, that's also a statement in itself of just wanting to be out and a broader loss of faith in the company.

They certainly haven't maximised what they could have gotten out for in the overall wash up, but were in this very early so still did well.