Ann: Thiess achieves Change of Control, page-12

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Logarithmic

35 Posts.

81

05/10/22

11:13

Post #: 64037717
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Originally posted by fourdollars: ↑

They aren't paying any dividend at all, keeping all of the $57m in our taxes for themselves in their new jobs. Keeps their new bosses happy, which is far more important to them than loyal, patient shareholders. They most likely had a conversation with Thiess when the NWH proposal came in.

MACA Directors: "we want to keep you guys happy and all, but we're starting to look even stupider than usual by recommending a $1.025 offer vs a $1.08 offer, can you do anything to help us out"

Thiess: "Ok, we'll increase the offer to $1.075, but you have to keep all the franking credits for us"

MACA Directors: "Sweet, all we have to do is go AWOL and hide behind the "shareholder information line" until you get your 50% and we can screw our shareholders out of a dividend"

There's nothing shareholders can do now except perhaps register a small protest.

For the cost of brokerage, you can sell your shares online for $1.075 and get the funds in T+2 rather than waiting 2 weeks. By selling your shares instead of accepting the Thiess offer, you can hold onto a few instead of selling them all. Keep 100 shares as a form of protest - it will irritate Thiess which will have to keep sending you shareholder communications, and serve as a reminder to our Directors about the poor job they did in representing shareholders.

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If you have an unmarketable parcel of value less than $500, the company could sell your shares.

https://www.companysecretary.com.au/board_briefings/UnmarketableShareParcelSale.pdf
https://thebull.com.au/23733-can-i-hold-just-one-share-so-that-i-can-be-included-in-future-share-purchase-plans/

Last edited by Logarithmic: 05/10/22

MLD Price at posting: $1.08 Sentiment: Sell Disclosure: Held
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