How do the holders plan to vote at the upcoming meeting?
I am going to vote against the acquisition as I think the chairman has clearly put his interests ahead of the minority shareholders.
J Curve, with negative equity and a loss making business, is clearly not worth the $3.5m plus option upside the chairman will receive.
STE by itself is worth much more than the $6.7m if is currently trading for with $4m of net cash and recurring FCF of $1m. The chairman gets an awefuly large slice at a very low price.
STE Price at posting:
3.5¢ Sentiment: Hold Disclosure: Held
