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clock Created with Sketch. 04/10/23
11:42
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Originally posted by dbd25:
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I'd suggest that TMT shareholders should be holding the board of directors responsible any unfavourable outcome of what may happen here if the takeover/merger goes ahead. The TMT board have a corporate duty to act in the best interest of their shareholders. If they don't, surely a class action should be taken against the TMT board ? As it stands, the board is recommending only one plan, whereby TMT holders end up with 1:12 AVL shares. In reality, there's no other option here for holders. Selling TMT shares right now would be at a significant loss for most. But what happens if the AVL SP drops as the merger occurs ? Selling AVL would then effectively be at a loss too. Holders are being cattleprodded from one bad enclosure to another. There needs to be a second option offered, namely a cash payout at 32.4c, and a strong argument can be made for an even higher premium on the cash payout. Furthermore, a "no " vote does NOT represent a another option, because the board and management of TMT have already indicated their wish NOT to continue the project with TMT as a separate company. Its an issue of trust in the management and board of TMT, and there's no going back now.
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"the board and management of TMT have already indicated their wish NOT to continue the project with TMT as a separate company." When did they do this?
