Hey mate I’ve already spoken with a lawyer (I used be one for 5...

First 33 Last

Share
Profile

Follow
Artvandelay01

2,651 Posts.

407

29/10/20

12:12

Post #: 48488235
Share

Originally posted by shumsta: ↑

So it looks like shares representing >3% of the voting capital are on this thread and of us everyone seems to be unanimously against delisting.

There are also potentially legal grounds for excluding Jacoby from the vote on the basis of his obvious conflict of interest, which would give us all a de facto increase in our voting power by c.25%. My holding is too small to make engaging a lawyer economically feasible, but it may very well be worth lodging a complaint with ASIC (no lawyer needed for that, just 45 minutes filling out a form on their website) about the potential conflict of interest. It probably won't achieve too much, but simply getting scrutinised by the regulator should improve our chances of not getting screwed here.

Delisting is generally only really a good idea when there is an enormous concentration of ownership with just a few shareholders, which is definitely not the case here.

I'm going to sit tight for now, there are not really enough shares in the market to buy enough to really shift the voting needle by a huge margin, which would be my main motivation for buying, and the price is waaaay too low to be worth selling.

Expand

Hey mate I’ve already spoken with a lawyer (I used be one for 5 years at start of my career so have a lot of legal eagle friends) and have a cost effective plan/proposal. I’m in transit at the moment but will respond properly in due course. I’m happy to coordinate this albeit my shareholding is also small (600k FPOs - all acquired on market since T/H and looking to add) so will be dependent on support of larger holders. More to come shortly...

Last edited by Artvandelay01: 29/10/20

TCN Price at posting: 3.8¢ Sentiment: Buy Disclosure: Held
1 Upvote

1 Great analysis

Reply