Gary Weiss and Kevin Seymour have put their case for four Ardent Leisure board seats directly to unitholders, saying directors of the troubled entertainment company were not able to "walk and chew gum" on its key US leisure business.

The business veterans who have amassed a near 9.9 per cent voting stake in Ardent through their vehicle Ariadne also said the 30 per cent decline in the value of Ardent shares over the past three years was due to deep-seated governance and operational problems that went beyond the fatal accident at its Dreamworld theme park in October.