Wouldn’t be worried about offer of resignation from current directors. That was an effort to appease Mike, and resolve the issue without it being aired in public. It was a conditional offer, which would have kept a favourable balance for their agenda.
Directors have confidence in plan being implemented by new CEO. David Usasz has a significant holding from investment at listing, as does Tracy Penn. Tracy remains committed as deputy CEO.
I spoke to directors today, they are confident that the co. is heading in the right direction, and now have the right person in charge. Very important vote for holders coming up.
SIL Price at posting:
17.0¢ Sentiment: None Disclosure: Held