Ann: Touchcorp receives non-binding indicative proposal, page-9

Again I cannot fathom how our acting CEO is also a director on the AFY board and is running direct negotiations on an effective takeover.

We should be using this offer to negotiate a better merger deal. Nothing in the announcement seems to suggest we are seeking further leverage. Clearly this offer shows that the market is valuing the TCH IP more so than the merger terms negotiated at a very opportunitic time.

it's not surprising that the AFY share price is up given they will soon own TCH.

What is wrong with holding the AFY shares without the technology platform? Is this supporting the AFY business more than what is best for TCH shareholders? Surely there would be someone willing to take on the AFY position with a discount for the escrow component. Or negotiate directly with AFY for the sale and return proceeds to shareholders if management just wants to give up on TCH rather than fight to keep the business going. Even if we get half the current market value of AFY it would be a significant return based on market valuations implied in the current TCH share price.