been a while!! I think most of us saw this coming, but hoped that this didn’t eventuate. Until recently I always struggled to see what’s Thorney angle in this day one they have financially supported the board in hand. Initial board they supported got sacked coz they didn’t have enough voting power. They have been very clear and public about this support. Second time round when the next board was getting overthrown Thorney was smart enough not to get burned they devised a strategy with the current board so their fate didn’t end up like the previous board. As Jamie rightly pointed out about 20cents takeover bid but board didn’t even contemplate this. Their agenda was clearly different. Now injecting more funds they will control the company with 35% shareholding. They had/have their own person running the show at mro. None of what I’m saying is my thoughts they are fact. If anyone wants where I source my info I’m happy to share my sources. There is no doubt in my mind that this will be a predominately Thorney run show. Make no mistake the last and current board is nothing but their puppets. Thorney has been and will be running this company without making a formal takeover bid. The equity raise getting rid of collignan is all diversion from the actual reality. Didn’t Micheal know fifth st and collignan was not feasible when he was getting 2k plus expenses per day when he was in charge of farms. Of course he/they did. Farmer Paul has been screaming for 1 year about the state of the farms and water issues.Ask yourself who loses with dilution of shares. Surely it wasn’t the founders or remaining shareholders except 2-3 holders. I rather take my chances on blackjack table then participate in this. Won’t be bitten by the same snake from the same hole 2times. My humble opinion is yes these guys do have quality assets and being the gangsters that they are they won’t let your average investor capitalise on this until the boards and 1-2 main holders get their cut. Also do they really need funds from outsiders to fund this operation? Thank you
MRG Price at posting:
5.0¢ Sentiment: None Disclosure: Not Held
