The board looked like dead men/women walking at the AGM today....

The board looked like dead men/women walking at the AGM today.

George spoke well.

Craig was robotic (didn't present, just read the slides) and defensive when answering questions. Was especially good watching him squirm to the question on why the capital raising was done... paraphrasing:
Q - why the rush to do a capital raising, merely to strengthen the balance sheet, when there was no immediate problem to fix, and dilute the hell out of share holders.
A - well it was a decision made by 5 of us after taking advice from our advisors. we discussed a rights issue and a placement and it's not uncommon to do a bit of both.

My thoughts - Well Craig, what else are the advisors going to say when there is an opportunity for a feed??? an experienced and strong board would have the gumption to take the advice but follow their own ethics to do the best thing for shareholders. His response was just hiding behind corporate speak. Weak.

Significant and/or majority No votes received prior to the AGM on all 5 resolutions. I can't see the outstanding votes swinging the outcome.