I don't think they will let this slide into insolvency.Having...

I don't think they will let this slide into insolvency.

Having slaughtered the Cyber cow, they now need to milk TSI until something else catches their eye.

Gary rents his office to VOR and remains Chairman, JL still has a job overseeing TSI passive investment and looking for new opportunities, Howard makes up the numbers.

They get to tidy up the register along the way and ready themselves for whatever is next.

Personally - if they value TSI at nothing - then Gary should go, but that's not going to happen.

A few other thoughts ...

It's quite possible that the buyback is a good outcome for a major shareholder like PB (our former chairman). (But its difficult to comment on and impossible to be specific). But $8m of franking credits is going to appeal to some holders.

CyberCx made a cash offer that gives the board certainty to move. I don't think TNT can go with a cash offer like CyberCx did. They'd have to have a combo of cash & scrip, or all scrip. Granted their share price has almost doubled since their October 6 update.

I agree with others, the purpose of the press articles was to confirm C10 & DWX directors had made their minds up.

The sale announcement also mentions providing a normal level of working capital for C10 & DWX. That could be $1m each.

We still need to hear the outcome of the management share scheme.

(btw - great post earlier Lazarus).

gltah.