Thanks very much for taking the time. I've been reading some stuff and came to realise a bit about the hedge fund's role. It wasn't a takeover in the usual sense of the word but an attempt to change the composition of the BofDs. Swago's rather insulting post will not merit a reply from me except that 'common knowledge' isn't always apparent. The danger about this stuff is that a sort of insider mentality emerges where being an insider supercedes objective appraisal IMO and newcomers can become the focus of sneers. However on the plus side I've received a couple of PMs from impressive posters. They know who they are