Ann: Execution of Deed of Company Arrangement, page-18

The directors put up the preferred DOCA. They won't be on the board going forward is my thinking. New board, review projects, recapitalise, consolidate shares on issue, get accounts completed and hand into ASIC/ASX and get relisted. That could take some time and assumes there is commitment for interim capital. If it ends up being a "clean" shell then there is value but dilution to existing shareholders will likely be significant.