whilst i share your frustration i do not agree that its time to...

whilst i share your frustration i do not agree that its time to oust the chairman. whilst he has been a major disappointment in my eyes also yet another pay out and new chairman just starts the merry go round again. whilst all the internal turmoil has happened since he has been in charge i feel we have had enough turmoil for the moment. i have a good feeling that the current ceo can get things back on track.
i presume that the last raising before this one has run out so fast because of what the chairman and new board have done over the last 12 months with the many sackings, 2 ceos gone, cfo gone , company secretary all gone, many many board changes and resignations, court costs and cash and share pay outs to ex staff and directors, legal fees etc etc.
it is no doubt all of these things that have caused the quick erosion of the last cap raising money and 15% rule i feel. with not as much raised this time due to all of the above this small amount wont last long either i guess.
hopefully all of this is finally over so whilst another raising will certainly be needed after the egm it should at least last a lot longer as it will hopefully only be used for what it should be . running the company.
i would much rather face further share dilluison then insolvency as painful as it is.
perhaps the chairman and the board will do the honourable thing and take massive pay cuts and work for free for a while to help repair the utter wastage of late.
wishful thinking i know.
if this last raising was oversubscribed as stated then we will see if the unsatisfied demand comes into the market to purchase. i am hoping our corporate advisers will make sure it does but expect it wont