RE: Walker''''s ResignationNo, he had to resign in order to be part of the equity offer. He cannot be member of the board of directors (decision making) while being part of the team that will make a financing bid. Direct conflict of interest.
Obviously he sees long term value in the company ...and don't forget, any of the existing BoD member was at risk since RH intended to fill 4 of the seast on the BoD...which means that some existing ones (including possibly Walker) would have been asked to resign.
What you see is a battle for control. The interesting bit will be which bid the existing BoD will favour...given that Walker was part of the BoD. Either he thought the RH offer was a steal for RH and did not agree, or his bid partners are already seen as more favourable by the existing board and so Walker joins in the bid to make it even more compelling. Who knows, that alternate financing bid may come from another canadian company (remember that Walker was the founder of SMTC).
We shall see soon enough.