Management and board

Worth reading my previous posts - and yet, I am still surprised just how quickly this company has fallen into administration.

There is a clear obligation on the management and board to uphold their continuous disclosure requirements. It is very surprising that they made a decision to publish bullish annual report and quarterly commentary, coupled with minimal disclosure on the risks facing the company - when they should have been cogniscant of the financial risks that the company faced.

There are serious questions about the management and board - and if they did something wrong, then they should be held accountable. Shareholders should seek legal advice.