The killer for me being a loooooooong term holder was when the debacle that was Vortiv ended. Rather than keep the cash to reinvest into TSi the cash was returned to shareholders.
That meant Smedley and his mates got in, be part of the capital raising to buy back the TSi stake, and through all that I got slammed with tax on the distribution and got diluted all at once.
Plus i was burnt by the business so didnt want to participate in any further capital raisings (from memory).
Ann: Notice of Annual General Meeting/Proxy Form, page-25
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