I'm actually pleased with the directors' approach.
This is a stock I'm willing to be in until 2014 or 2015 so long as their strategic plan keeps moving in the right direction and hitting targets. Underperforming for a year or two doesn't worry me when (IMO and my working of numbers) in 3 or 4 years this could or should easily be 100% to 200% about the current price. 100% in 3 years is a worthwhile return whether it all comes in one year or in increments over the time. Note I'm not a trader and am in no rush with my money.
I can see why other parties only wanted to pay $1.90 now. I can see why the directors think that under-sells it. The maths is simple really and in an earlier post of mine on this stock. I'm in the directors' camp in this case.
MJS
TGR Price at posting:
$1.57 Sentiment: LT Buy Disclosure: Held