who is the guy andrew increasing holding, page-9

The Shell deal was put together by Fowler under the guidance of fellow Director, Boserio. Boserio was a 27 year veteran of Shell and had close personal connections with Shell personnel. Now, it would not be difficult to surmise that there was some benefit for these guys because they were either very naive to negotiate such a bad deal with Shell or they were complicit. Based on my experience, incompetence was the likely cause. IMO.
If they gave Shell concessions, they should have locked in a minimum price. Clearly Shell called Nexus' bluff over the liquids project that had an NPV that I remember being quoted by management (in 2011) at 70 or 80 cps. The Shell deal, at $75M for 2% had see through value of 637.5M, about 45cps, but clearly was perceived as risk free.
Boserio and Fowler had bad call after bad call. Then they jumped ship and handed leadership to a person from the pseudo Shell affiliated 'Woodside'. Suspicion has to be there. But I sense the Shell fight has been lost. I also suspect that the Longtom fight was also lost, clearly the Sedco Rig fight was lost.
Now it appears to be the shareholders will pay the price and the senior management will protect their positions with jobs at SGH.
The NexusBattle Team is sending a powerful message to the market, IMO. There are many Directors ill-equipped to lead shareholders into good businesses and the market desperately needs better shareholder representation so that deals negotiated by 'challenged' Directors are prevented from destroying shareholder value..