I agree with @Missypoo
Firstly, it is only valid to value an asset at its immediate price if there is no prospect of the future value changing. This proposal is the kind of proposal that you would see for a company facing receivership, and there is no prospect of growth, a revenue stream, or a future return. If this is the case the board has not disclosed it, and that would violate their duty of disclosure.
Secondly, the company has not released its basis for regarding 11.5c as "in the best interests of shareholders". For example, what is their projected revenue from Alodoktor and the other telehealth platforms over the coming 6, 12 and 24 months? Which health authorities have they approached with the Covid19 test? What adoption model have been proposed to (or by) those health authorities?
As it is they are asking us to trust them that their assessment of our "best interests" is valid. And at the same time they have agreed to a document that binds them to promote the proposal regardless of whether it really is in our best interests.
So at the very moment they are asking us to trust them they have created a situation where not one single word they issue can be trusted.
This is as far removed from responsible behaviour from a board as I can imagine.
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BOD Motive?, page-37
Currently unlisted. Proposed listing date: 4 SEPTEMBER 2024 #
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