The so-called "unsolicited" Bentley offer was an absolute debacle. The conflict of interest exhibited by Khan, Ho, and Johnson was breathtaking, in spite of the "seen to be independent" Takeover Response Committee chinese walling these "double agents."
That the majority of shareholders saw the t/o for what it was - a naked opportunistic grab for the company's assets using shareholder's funds - now screams that the board should resign en masse and let a truly independent and professional team take this company forward. This should be regardless of Bentley's now 36% ownership of SRK. They haven't the right to be appoint any directors as, no doubt, they will try to take board control from a minority position.
The Board has clearly solicited a vote of no confidence with the majority of shareholders rejecting their recommendation. Its time for them to man up and fall on their own sword.
SRK Price at posting:
4.9¢ Sentiment: None Disclosure: Held
