L/B attempts to highlight that previous directors have sold...

L/B attempts to highlight that previous directors have sold their shares, EIT has sold its shares, and that the remaining Directors only hold 0.25% of the coy.

well, I just randomly selected two big successful ASX coys to compare with:

Treasury Wine Estates TWE:
Non- Exec directors hold 231,000 shares of total shares of 649m ie 0.036%

Wesfarmers WES:
Directors hold 2.4m shares of 1,143m on issue ie 0.21%

so imho, the argument by L/B that the fact that WCL directors only hold 0.25% in WCL, is a reason that we should accept their paltry offer of 40c, is simply a non-argument.

it's a poor argument to divert our attention away from the main game - ie that our shares are worth way more than their 40c offer