Ann: Recapitalisation Proposal , page-10

I just wonder whether this recapitalisation deal would have been proposed had it not been for the directors getting caught up in the Lift Capital mire. To think that Ironbridge stand a chance of getting a controlling interest in the company at 15 cents/share is a bit rich when you consider not so long ago a $1.76/share takeover was being considered.As I see it the only beneficiaries will be Messrs Dunstan, Woodfull and Ironbridge. I will be certainly voting against the proposal.