They still need to comply with continuous disclosure obligations if they have 100 or more shareholders so we won’t be in the dark. If they wanna MBO they’ll need an independent experts report. Admittedly that process can be gamed but they won’t have a leg to stand on if the valuation is less than the current market cap given the reason for delisting is because of their belief (which I agree with) that the market value is below the true/fair value of the business.
I’m taking a glass half full approach / assuming the board are Bona Fide here but understand there are reasons for scepticism / caution.
TCN Price at posting:
4.9¢ Sentiment: Buy Disclosure: Held
