I will put my cards on the table. I have been a very long and...

I will put my cards on the table. I have been a very long and loyal shareholder of SFI. I have supported the company because it was developing world's best technology aerial imagery camera system and accompanying software to maximise the use of that imagery. And it was developed here in Australia.

And from a long term investment point of view I believed that in the longer term it would become a substantial player in the Australian imagery space, competing against the only real competition in Nearmap. And because of its superior camera technology and low cost of capture per unit of area it would win that competition in the longer term. But it would take time, not just because of the roll-out of initial imagery but because of it needing to conserve its capital, and thus it might take a few years to be able to overtake NEA.

And that competition between SFI and NEA has been heated somewhat between the 2 companies because of the links through past management involvement by SFI people within NEA that moved across to NEA to compete. That led to an earlier bout of litigation re patents which was settled before it went to court hearings.

Now all the NEA shareholders reading this are probably now scoffing. NEA has performed well on its various performance indicators (but not net profits!). This is reflected in NEA market cap moving up in excess of $600 million in the past couple of months from something around $300 mill. Well think again everyone.

WHEN (and IF) SFI goes through with this Scheme of Arrangement successfully, and Eagleview, the dominant player in the far larger American imagery market, which is funded by private equity capable of tipping in considerable funds to build market share, will soon not only become the second player in Australia. It will become THE MAIN PROVIDER of aerial imagery in Australia. Not a matter of perhaps, but a matter of WHEN. And it will be SOON!

So if I was a part of NEA board I would be seriously looking at this slight of hand takeover, a sell-out by the Australian board of SFI to a huge American corporation that will provide a serious threat to the long term prosperity of NEA, an Australian company.

I have been a loyal SFI shareholder, but more than that I am a loyal Australian above all. I hope that the board of NEA can see the threat the truly believe is out there. And I hope they can see the sense of making a counter-offer for SFI. And of course NEA doesn't have deep pockets, but what it has got is a highly inflated share price at present, thus an all share offer, at a reasonable premium to the all cash offer made by Eagleview, should be a winner - I suggest 10 cents per share (equated on a share for share arrangement) would probably have a good chance.

All the lemmings that dropped 25+ million shares on Friday to that big buyer has played into the hands of the American monster, but the fact that Eagleview can't vote its shares and needs 75% of the vote to pass the resolution on the Scheme of Arrangement, will make things interesting. I am of the view that the other major shareholders (eg Rod Jones etc) will look at any alternative that can add value to their equity, rather than ultimately sell out at 8 cents per share!

(Those other major shareholders doesn't include the directors who have obviously shown themselves to be short term investors more interested in their own best interests than the interests of shareholders). And I cringe at the comments re the great offer made by the chairman Marinko, that is an absolute joke. I will be interested to see the "Independent" expert trying to rationalise the "great" offer provided - but of course that better be an independent and not a lame duck valuation. Any conclusion that this is "fair and reasonable" to ALL shareholders will be most interesting. Certainly it will need to be looked at by all shareholders, and hopefully by ASIC.

I hate the thought that this technology is being handed over to an American company for a pittance - if this was an American company under takeover threat I'm sure Tramp would be tweeting all the way to the finish line!

I am surprised that the shares ended at 7.5 cents. I suggest that if there is any inkling of a counter-offer (by NEA or other) that the share price might move above 8 cents! And after all Eagleview is trying to get this at a steal! It provides them with a ready made start into the Australian market, and it will put all its resources and money into competing against NEA with both money to boot, a lower cost of image capture, and a higher quality of image output!

Wake up Nearmap, put in a counter-offer - and don't think that it proves the SFI have won some stupid egotistical battle, its about your commercial future in Australia, your home ground market!