Completely agree. The assets that are to be spun out to form the new company are currently held by AVL are owned by the shareholders. How do they benefit from this deal at all? The BOD get a nice deal and yes AVL will own about11% of the new comapny but existing shareholders get diddly squat unless they want to stump up more money for MG1 shares.
Not a good deal at all and not a good look for the BOD.
AVL Price at posting:
3.8¢ Sentiment: None Disclosure: Held
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