If true about Andy's, that would be very concerning. As part of...

If true about Andy's, that would be very concerning. As part of the recap deal, Andy Hoare was supposed to stay on as Group Business Development Manager with a 5% shareholding. Why has his departure not been announced to market?

This entire situation is starting to look very concerning. It was only back in February that the independent expert put the post-transaction valuation of the shares at 3.7-6.6c. Now Black Crane are selling out at 19c on the back of Morgans' research.

The trouble for new shareholders is that they face the prospect of having their equity wiped out again in a couple of years. Even with two years of favourable market conditions, Emeco is still likely to have negative equity by the end of FY19 (according to Morgans' research) and will therefore be unable to refinance their debt. They will be forced to either raise equity or hand the company over to the bondholders.

Does anyone have a different reading of the situation?