Ann: Recommended Cash Offer to Acquire Trident Royalties Plc, page-92

I think investors liked what they had. I’m not sure you can say it increases the “value” of the company when the share price is down and literally valuing the company at 31% less than its peak at around the time this was announced. It adds debt which will need to be repaid immediately for commodity royalties that have an unknown royalty stream that may or may not start flowing at some unknown point in the future; in what is presently a downturn in the commodity cycle. It’s added risk that wasn’t previously part of this investment and wasn’t desired by many, again as evidenced by the dramatic turn down in the share price. On top of that it stinks of management just doing something to justify their existence and expense when simply doing nothing and slashing management expense would return a better dividend and likely have increased rather than decreased the share price. Share holders have a fair right to be p!ssed off as this does not appear to have been done in THEIR best interests. I’m am very surprised this wasn’t challenged by major shareholders or a class action wasn’t commenced to attempt to prevent it. The board should be spilt over this and replaced with large institutional investor representatives IMO.