Management doesn't care for us. Who does a deal at a 16% discount when it can be done for a 45% premium? Any shareholder that approves the issue to directors doesn't understand the implications:
- adds more shares on issue (dilutes your existing holding by 16%)
- adds overhang for a long period of time
- gives OPY more runway to survive, but it is funding a black hole that always needs funds as the model is unprofitable
- they can pay more staff at our expense and sell a dream to brainwashed shareholders
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- Ann: Successful $67.5m funding package to accelerate OPY growth
Ann: Successful $67.5m funding package to accelerate OPY growth, page-41
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Dani Nadri, Country Manager Australia
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