Venstr, I think you may have been a bit hard on Peter Delaney...

Venstr,
I think you may have been a bit hard on Peter Delaney the other day when you said ".... and the news that P. 'diddy' Delaney was kept on and will be used to do what he does best - Optiscan imaging. This was a key point for me, wouldn't trust him to run the show, but I'm pretty sure he is the brains behind the tech!!"

Wink's observation last month that "none of the other high flyers with fancy references could squeeze one cent of profit out of OIL over 20 years"

So trying to combine these two postings puts us back to the inception of OIL. The "high flyers were some of the original directors and were prominent in the early lists of top shareholders. They apparently have taken their shares off the table as they are now no longer listed. Peter Delaney, back in 1998, held 2,680,001 shares (or 5.58% of the company). He hasn't sold down as at 30th. June, 2015 his holding was 4,531,259 shares (presumably taking up option entitlements in addition to share issues). But his interest is now at 2.04% as others have taken up additional share in share issues and this has diluted Peter's proportion in the company.

Peter has therefore has shown his confidence in the company, and one can only assume this faith is attributed to him being instrumental in conceiving and developing OIL's products. As has been said by others, marketing is not his long suit and that's why you have others with varying expertise on a Board (but best to stay away from the "high flyer" variety).

With the new Board now consisting of 4 directors it would seem a bit bulky to make it 5 to include Peter. No doubt he could be invited to Board meetings to offer his technical advices. He may even have been given a pay rise to compensate for his loss of Director's fees - who knows, I don't.

But P. for Peter and I reckon P. for perseverance and I hope for his sake and other shareholders that the share price gets a dramatic re-rating as a result of these recent changes and the likelihood of better thing to come.

MM