Ann: Results of Annual General Meeting 2017, page-4

The acting Chairman would not move off the script and did not give further information as to why they approached Naos. He did not seem aware of an asset consultants work under taken by the previous board that had scoped 30 institutional grade micro cap managers. Which was then followed a due diligence process face to face meetings with short listed managers to select OC Funds. This process was clearly in shareholder interest and was clearly communicated in shareholder commentary. OC are significantly outperforming, this shows what good work can do.
Seems the new Chairman has not done his homework and read a few board minutes or company announcements why he was promoting what a bad job the old board was doing.