Downanout Personally, I would suggest shareholders should NOT...

Downanout
Personally, I would suggest shareholders should NOT touch this type of deal, even at 5 cents!
A decent Board would call an EGM, or get a 5 per cent holder to call it, to present a considered presentation of current manager's performance over last fifteen months, and comparisons to half a dozen alternatives
We now know the manager they unloaded has continued to thrash CGA Sept qtr 8 per cent above CGA. Only cost $2.4m in lost earnings so far
The meeting would not be to have shareholders decide new manager - but to approve removal of CGA once new managers have been been selected. Of course this would spell the end of CGA given their cash flow shortfall would increase from over ( a guess ) $2.5m pa towards $5m pa
Which is why one suspects there must be another plan being hatched?
DYOR