"I don't think they (the TRS board) will be too keen on handing...

"I don't think they (the TRS board) will be too keen on handing over the coy for $2.70 though, as has already been seen."

They have virtually zero direct voting interest in the company; what they say or do will not matter when it comes to an exercising of the collective will of the owners of the business.

And, in that vein, you have still not answered the most salient question:

If an EGM is called, what do you think the chances are that most people [*] who vote at that EGM, will do so in a way to retain the incumbent directors? I mean, will you vote to retain the board as it is currently comprised?


[*] And you are right, it will mostly be institutional investors who do vote. Which, I think, only increases the odds of votes for, as opposed to against, the sacking of directors.