Really ?
A nice furk yoh letter to shareholders. We (shareholders) made a mistake by investing in INA, it is OUR investment decision and we are responsible for it.
INA's management the old and the new FAILED miserably. Remember their names and never invest again in a company they manage. They don't and you don't deserve it.
-Update - I know my statement about the new mgmt may shock some people since they did their best to try to save the company, but they created expectations with big ambitions a year ago(the PoO started to go down at that point). It probably made existing and new shareholders to acquire shares. They are far from that commitment:
"...It is the ambition of the board of directors to build on the existing corporate platform to create a North Sea production company of scale with the intention of ultimately paying a sustainable and progressive dividend once the Company reaches a position of higher production and stronger free cashflow. The Company intends to achieve this strategy which focuses on "Scale, Production, Yield" mainly through acquisition of existing production companies, acquisition of producing assets and a more effective use of tax loss pools...."