AMA reorganization, page-20

For a new punter, that may be the case but existing shareholders are down 28c from the market high. For these people, doubling 9c in the ACAD listing is cold comfort. It leaves them 19c under water. What's to like about that? You could view this as the worst bit of wealth destruction the directors have ever inflicted on shareholders. In my opinion, we are not in the perfect space the directors have been boasting of for the past three years. The scheme of arrangement aims to sell the dream cheap.