When now I look back, your prediction is very much accurate and I admire this a lot. So may I share some of my view here?
It is this Announcement that attracts me in to read what people said back in those exciting days...
This announcement to me is another evidence proving David Teoh is very much friendly to registered shareholders, but also just in my opinion:
Back in Nov 2015, TPM's share was basically all time high. Teoh smartly used this time to do a placement to raise money from institutional shareholders... But to those non institutional shareholders especially including himself, he restricted the total raising amount (capped at max. $50m) at only one sixth of the institutional placement (raised $300m) and the individual amount at max $15,000 only which implying obviously David would not participate!!
With him being the largest shareholder in TPM, the above actions basically double confirmed David's view about TPM's share price was inflated. He was being absolutely kind to retail existing shareholders, not being stingy or ungenerous.
Until June 2015, TPM had roughly generated $15 dollars free cash flow for every new $1 dollar Teoh asked from shareholders since 2009 while VOC only generates 17 cents for every new dollar....
He is a corporate hero (to me), but in a difficult highly competitive with no natural low cost advantage...I once before having deeper understanding about telcos industry thought $8 would become my entry point but $7.23 now still looks not very attractive to me after hearing your Optus bills history and especially Teoh is now going to bid the Singapore spectrum...
I will remain a keen follower of Teoh and TPM in the next few years... With Teoh in charge, once the price looks attractive, TPM should still be a very good investment.
TPM Price at posting:
$7.23 Sentiment: None Disclosure: Not Held
