I share your frustration but I think you are assuming a lot when you criticise management & suggest they don't care about shareholders, the share price, etc.
Just look at the shareholders list online & you will see that management are shareholders & so are ex-directors who still hold lots of this. And don't forget OchZiff who are right behind the company & big shareholders.
They do care, & are very mindful of what the market is telling them.
The company also got lots of direct feedback on today's announcement from shareholders which was both both positive & negative, including, I will say, an email from me.
I'm sure that the sorts of figures we expect like turnover, ebitda, etc., will be part of the memorandum that will be issued to all shareholders prior to the EGM to vote on the merger.
But some other figures we would like to see like revenue forecasts & projections, margins, etc., are not things companies are allowed to state in announcements without concrete proof & that's a bit hard with things like technology projections.
You have to remember everything the company is doing & saying has to go through ASIC & the ASX & they are pretty stringent on what companies are allowed to do & say.
So, to get the information we are craving, we need a research analyst or 2 to visit China Hengda, view the plants, do some research, ask the relevant questions & publish a research report(s) on China Hengda or China Hengda/Lamboo merged which addresses all the analytical data we want to see. Like current & future turnover, projected growth, processing costs, overheads, margins, projected business model, etc.
My understanding is that this is understood at the highest level & the process is underway with an analyst report expected in 1 or 2 weeks.
This is a complex transaction so I guess we just have to be patient & let the process play out given the rewards of the end game once the merger is completed.
HXG Price at posting:
59.0¢ Sentiment: Buy Disclosure: Held
