Sorry about your predicament however either way you look at it the owners of the businesses making up Neptune ARE the business. When they go a lot of the work will also go because these businesses were built on strong customer relationships by people that had a vested interest in making their business successful.
If Neptune survives and the owners take their money and walk you will see a steady decline of activity and if there is no caveat on them for a non compete clause (hope to god there is) then you will see a few similar businesses springing up taking all the work.
I have heard that internally a lot of managers are being asked to consider voluntary redundancy which although a good start can also mean that the best people leave and the company crumbles. Clearly the board is full of weak men who let CL do what he wanted (especially the COB who in my opinion is culpable), however if you lose the good people you will lose the company anyway.
Robin King has a track record in runing the Technip/SS7 JV so lets not glorify him as done in the past with CL....... he ran a company that was in essence an institution with a hell of a lot of framework and track record backing it up. My understanding is that he has no track record in resurrecting a failing company and/or running a mobile organisation. Couple that with the weak board of directors and......;
NMS Price at posting:
8.4¢ Sentiment: Sell Disclosure: Not Held
