two possible scenarios

For the board to even dream of entertaining such a pathetically low offer either one of two scenarios must be true.

1. The company is in deep deep sh@t and cannot be turned around without a cap raising etc etc.
2. The company is not doing that badly but the board and management have thrown the towel in because they are about as competent as the current labor government. (For the record I rate them as the most incompetent government in the history of this country)

s.loeb