TAKE A LOOK AT LOMBARD MEDICAL - I'M IN 2 IT

If the agreement was inked 14 months ago or 14 days ago makes no difference to me - now. It would matter if I didn't like the agreement. It's not the best from the bare details available in the prospectus, but looks pretty good in the circumstances from where I am sitting. One hopes that playing fast and loose with procedural issues is now behind them with Lion & Canning gone and Kerslake going but not quite gone (see below). I note that the sum required to resolve the part paid issue is £420k being 5.6% of £7.5M which is not much more than it cost to see Kerslake on his way.

In summary, if the payout happens and I strongly believe it will then what is the problem? What is your problem? History will be exactly that, history. History will only be important if things get sticky.

More info

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Following the 30 June 2005 period end, the following shares have been issued:
Date Number of shares issued Consideration per share
4 October 2005 26,333,339 B preference shares 7.5 pence
18 October 2005 15,000,333 B preference shares 7.5 pence
10 November 2005 666,661 B preference shares 7.5 pence
15 November 2005 10,670,602 A preference shares 7.5 pence
15 November 2005 5,627,943 B preference shares 7.5 pence

The preference shares issued on 15 November 2005 were issued as a scrip dividend to satisfy arrears of dividends on the preference shares relating to the period to 31 October 2005.
The A and B preference shares rank pari passu in all material respects.

13.8 a compromise agreement dated 3 November 2005 between (1) the Company and (2) John Kerslake pursuant to which Mr Kerslake resigns from his employment and directorship and receives £316,805 in consideration for his waiver of all claims (contractual, statutory or otherwise) arising from his employment and/or its termination. On the same date, Mr Kerslake entered into a consultancy agreement with the Company. This agreement is for a fixed period of 3 months during which time Mr Kerslake is entitled to a monthly fee of £11,250 (exclusive of VAT);