Tam down only 6.5%.
I have a Query InfoS. You say TAM directors are under extreme pressure to look after shareholder interests. What gives you that impression?
Directors decision making process this year makes no sense to me bt then what do i know. Take a recent one for example......
If you look at the TAMCA (contributing shares).. as you know the contrib shares made up about 15% of the equity base of the company. By deciding to call the 19c on them when the head stock was 16c, meant that they went to zero.... stay with me..... the point i am making is that 15% of the equity (i interpret shareholders equity to mean shareholders) took it up the clacker on that little decision. They go to auction so some potential corporate predator gets to buy them on the cheap, rather than them staying in the hands of loyal TAM shareholders.
They are desperate, and it's hard to see they give a tinkers cuss at the moment about much EXCEPT protecting their own bottoms, and the MD's $464,993 renumeration (page 21 Annual Report).
Just observations and definitely not to be relied upon for investment advice. I won't touch with a barge pole.
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