directors have been backed into a corner, page-6

Im very dissapointed about how this has turned out.

But I dont see any dodgy dealing. The directors have substantial shareholdings and stand to lose out significantly through this takeover. I bet they are cursing there was no competing offer.

I cant see how they gain.

There is no prospect of a sweet position at AWE. There is no way after running your own company that becoming just another AWE executive is remotely appealing.

The fault lies in the structure of the company and the ASX rules and in retrospect we never had a chance. Adelphi was always intended as just an extension of Arc - Adelphi means "little brother" in latin I believe.

There is a lesson to learn.

But as I said I cursing because finally it looked like I had a nice holding in a company with great growth potential and its been snatched away just as the fun was starting :(