Nuke
Even though I'm going through these numbers in some detail I believe the Board had two options.
One was to just let IMI role over and die. I about 95% of the individual shareholders would say "who gives a rats it died 3 years ago". I doubt they will even bother to vote on the proposed resolutions.
The other was to use IMI's shell for someone else's benefit. That's what is happened here. If the company is to be of benefit to someone else what is happening now is the only way to do that.
By the way under this horrible proposal I will, under this proposal with Whit Data, lose every cent I have invested in IMI. My support for the Board was because of their stated intent of "protecting shareholder value" and looking for a new future direction for the company. Three years ago the direction was resources, two weeks ago it was tech and now its a company with shares in a Trust which may build and rent a building. I have a feeling of being mislead by this Board for the past years and in this supposed "acquisition".
Add to My Watchlist
What is My Watchlist?
