Ann: Acquisition of Australian Petro Chemical Storage, page-182

This happens around ASX very often, companies issue IPO shares in higher prices and privatize the company in later years with much lower price. Large financial companies always take advantages from distressed market. This also often related to companies are in need for capitals. To me, DGL's debt level is under control now.

APM has just completed the same journey. I was on board.

To me, it's unethical to retail shareholders, but we have no control over it. We can only rely our own valuation criteria.

I don't see signs of DGL heading this route, but Simon has intention to dilute his holdings. It could be capital raising or sell a stake to institutional investors. He shouldn't be selling it at a low price if the company is running well. But if the company is in distress, then it can happen.

Please share thoughts.