It was listed so that they could raise capital to grow, which they have done several times. This wouldn't be happening now if the share price hadn't crashed. That's the investors that did that. Abandoning guidance? So what, that didn't change the fundamental value of the company. Investors who didn't like the change in strategic direction sold out and that caused the crash. Companies change their strategy all the time, especially newish ones.
He resigned because he was conflicted. Legally conflicted. The CEO was on the board, and the Board's responsibility is to look after the interests of all shareholders. By considering a management led privatisation, the CEO became conflicted because his interest is not necessarily the same as minority shareholders. That's why he resigned. This is not a common event, but it's not that uncommon and has many precedents.
I'm not sure why people are so concerned on here - the damage was already done to the SP, this potential buyout can only help underwater shareholders.
SRF Price at posting:
$1.38 Sentiment: Buy Disclosure: Held
