I haven't missed anything. I am thankful that some people think...

I haven't missed anything. I am thankful that some people think TRS is worth more than 2.7 because I sold my shares to those people. I am grateful that Allensford put a floor under those people of 2.7 to allow me to do that. I agree that they will most likely not get enough acceptances at this rate as people bought higher than 2.7 and with a thinly traded stock are holding tight. However they are currently getting shares at 2.7. Allensford would have been much better off doing a cross trade with the recent super fund who sold off at an agreed value or soaking up enough of the shares on market during the dip to start making board changes. While understanding this I am not too concerned what most holders or yourself are doing at this stage. I have taken my chips off the table and de-risked until I can see what happens on the 6/3. I hope those holders and yourself can see a price > 2.7. Looking 2 months down the path I couldn't. You see the takeover failing as a good thing. In the short term I don't think this offer failing will help the share price.

Before that report i thought it was also a low ball offer at 2.70 on historic figures. They are now expecting full year profit to be "Full Year NPAT Guidance: $3.1 million - $4.1 million, inclusive of a H2 2019 forecastloss of $6.5 million - $7.5 million". So that 10 million NPAT they just gave you management are looking at dipping into your pockets next half and taking 6 to 7 million of that. Turning 35 cps this half into full year 10 to 14 cps earnings per share. That doesn't add up to a 2.70 share value in my opinion. From a fundamental basis TRS has severely deteriorated. They took a 40 percent slide in EBIT and NPAT for this half. I typed all of that slowly so you can understand that.

Once that dividend is paid and the takeover offer not in play what would be enticing you and others to still have a buy sentiment? Are management expecting growth here or similar or better figures next half? Management are expecting losses. I don't buy shares for management to devalue them, I expect them to add value. For me to be interested in this share again the management and board will have to have a severe pay cut and a few changes, oh and start growing EBIT and NPAT would be good too.