When I read the acquisition announcements there didn't seem to be any such allocation. So not as I see it.
My reading of events is Scott Beeton resigning just left them, 1 director, short of the requirement of 3 as I understand it.
Plus as the two remaining were on opposite sides per the voting recommendations it could be a stalemate. This should all resolve itself at today's meeting as I suppose the vote re SB won't go ahead I presume and it will possibly result in the appointment of the nominated person to the board which would reestablish the 3 required.
In regard to your comment wanting an offer I would have hated it - I think the share price has been depressed because of the board room fight and that would have meant a lower offer. Put this behind and get some runs on the board and then maybe it's a good idea. However, I think this could become a nice little earner with a good dividend flow.
