Considerations against the merger, page-5

It does seem odd that we are soon to be AMAL instead of the other way around. But going forward TAW is certainly steering the ship, albeit under a new name. I believe our operational expertise has been truly recognised with the allocation of MC + others giving us a dominant position in BOD. I also believe that, after this first murky period, the merger will unshackle the SP. We've effectively trimmed the fat and cashed up TAW to keep doing what it does best! Yes this could've been done without the merger, but something had to happen with AMAL and this is better than having them drift along. BUT, I must admit, the risk averse side of me definitely prefers only a ASX listed merged party.. however the optimistic investor see's access to asian EV investors as a big plus that unlocks some serious potential. ... in conclusion, I understand your concerns, and share most of them. And I believe that we have certainly been robbed of the TAW SP being at 65-70c this month. And I understand that you disagree that we could hit higher highs faster with the merger than by ourselves. But I honestly see rejecting this as a catalyst for a sell off of TAW that would hurt us more than rolling the dice on the merged entity. Forcing us into re-negotiations would be to move against MC and our BOD, so I really see this as a vote yes or sell scenario.