I'd agree with Bundy_too. Sandon being a fund manager appears to be interested in an immediate monitory return and/or perhaps their break even is somewhere between 2.6 cents to 3.5cents.
But everything else they have stated about the GBG Management resonates the arrogant, aloof, disrespectful flair I felt as a shareholder and the following statement from Sandon summaries the looting: <quote> In the four years from FY14-FY18, total Board and senior managementcompensation has equated to >75% of the normalised pre-tax losses that havebeen reported by GBG <unquote>. Blatantly obvious they'd pile up Millions from capital raising and then run it down their pockets over the next several years and all that the Coda shareholders will get for their money are cold, uneventful, non-factual quarterly reports lacking any inspiration.
If they don't like and respect the shareholders (as confirmed by the comments from some of their allies posting here) don't see how the same bunch would be motivated to re-negotiate a better deal here either. At the end of this vote, if they don't step down the big guys at the top (like Sandon) should bring in a resolution to appoint a new Chairman/MD, and a new Directorboard to take GBG forward. It would be shameful if they still want to forcefully hang around,
GBG Price at posting:
2.7¢ Sentiment: Hold Disclosure: Held
