This vote is definitely not a straight forward one and I have held both views with some conviction at different times since the deal was announced.
I also have very high regard for @swc's assessment illustrating the downside risk here and there is no way to rule out a poor outcome for shareholders should the no vote get up.
The eventual outcome in either scenario (particularly a 'no deal' scenario) is uncertain.
I take some comfort from the fact that we are all (Somers and minority shareholders) in the same boat following a no deal outcome - provided shares are to be held onto until a definitive outcome is reached (i.e. not sold off in a mad panic). Importantly, rather than minority shareholders providing implicit endorsement of the "quasi-LIC", we would instead be providing an emphatic rejection of this proposal and giving notice to the Board.
I have no idea which way the vote will go, but knowing TGA, expect it to remain very interesting
TGA Price at posting:
$1.32 Sentiment: Hold Disclosure: Held
