I agree - the only ones complaining are those that are reporting poor numbers for the first quarter of 2020, facing a wall of investor redemptions and needed to show some short term profits. This is pure greed at a time when fund managers are desperate...
Reading yesterday's articles in the AFR it seems that Scroggie put considerable thought into what a supportive, long-only shareholder base looks like. So long as it is done fairly (i.e. avoid the COH avenue of giving 30% to one shareholder), I think every business should be doing similar, rather than acquiesce to the investment banks and give the stock to hedge funds for short term profits! Everyone hates the investment banks in these processes (for good reason), though when a management team jumps in and takes an active stance in the best long-term interests of the company everyone is up in arms. Pick your poison, though I know what I'd prefer as a shareholder of NextDC
NXT Price at posting:
$8.34 Sentiment: Buy Disclosure: Held
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