I think share price will force TCN board for change, which they have been talking about for a good 2, 3 years during which period, they appointed M&A specialist, they had exactly same amount of cash in the bank, literally unmoved. regardless how much money each of three businesses made, the company never had policy to pay % as dividend stating for further M&A.
its latest presentation still states:
- Be ‘open for business’ and putting money to work
- Be fast and flexible versus banks or alternative sources of finance
I think some long term holders simply had enough. all they talking about is that $3mil in the bank as if that is a lot of money.
TCN Price at posting:
6.0¢ Sentiment: None Disclosure: Not Held
