Ann: Requisition under section 249D, page-16

Apologies if it came across that way but not my intention. I just think you are way off the mark at assessing the risk here. Timoney's word is worth nothing at all. He can requisition a meeting the day after those directors resign. The lender is like to say well at the best of times with a organised board like at RCR the rug can be pulled. With a dysfunctional board good riddens. You can't turn around this kind of thing in a month or so. This will take months and months if not years.

I think it was terrible in that them resigning would not have meant anything for SIL. All that would have happened is that Timoney would likely have just got them off the board and he would have continued to pressure management and continue to run the board. They should have hung on and fought him off even in public supporting the CEO and liaising with the lender. Them resigning would have been the end of any equity value in SIL.