Member Info for AA2020

I see three possible adverse end games here, not all of which are mutually exclusive:

1) SF drives the company into administration and then buys the vessels on the cheap from the banks

2) SF stuffs the BOD with their nominees, and therefore has control and individually sells off the vessels (to themselves on the cheap) with banks repaid from the proceeds

3) SF bids again from 29 NOV

With respect to #1, I don’t see how that benefits Mazrui or Horizon. Unless they are shareholders with SF in a NewCo that buys the vessels. But then surely that would prove from Code point of view they were acting as concert parties all along? It might of course be too late by that point for GMS’ other shareholders for the Panel to take any action. Not sure what there powers are “after the fact”

With respect to #2, the current Board of course immediately reappointed the board members which SF succeeded in “removing” over the summer, citing DTR and related corporate governance regs. Might the current Board be able to do the same thing if SF is successful on 10 Nov with their nominees?