RE: Board changes5 Sep 2024 18:07
“Further board changes…”
I’d tend to agree that RM will be next. His position is surely untenable, with the finances dwindling, not being able to implement the plan he rubber stamped at the last AGM and now financing needed. And to top it all off, he has breached regulatory requirements for the AGM. I mean, how can he possibly sit in front of shareholders at (what does appear will happen) the forthcoming AGM?
I’d also suggest Simon Shaw’s time is over. He has been challenged quite hard the previous two AGM’s on typical convention that chairmen usually stand aside after so long, but he thought he was the best man for the job and asked for more time while the recovery plan was implemented. Well, for whatever reason, it’s just not happened and IMO his time has also come.
On the positive side, I didn’t read the RNS that the company is finished and while I am confident they’ll be some kind of dilution for shareholders to keep this show on the road, I do think it will stay on the road.