Given there is no ability to complete the deal prior to the...

Given there is no ability to complete the deal prior to the required date, the current scheme of arrangement should be terminated immediately and another investment bank (not citi) should be engaged and without any influence what so ever from ametuers such as Adelaide Equity et al. FMS can then get on and structure a deal with an organisation which is strong, stable and with an appropriate level of corporate governance and limited political risk.

The chairman should reduce his above market salary significantly (if draw one at all) in good faith until the deal is completed given the now poor balance sheet position.

An addition to the board should be made (and other board salaries reduced to compensate for additional expense) with someone whom has significant M&A experience.