After the company released information about the possible jv with Salt Tech. (which will hopefully create substantial shareholder value down the track if a finallised is reached), I think that its time for shareholders and management to seriously consider the effects of us having over 1.7 billion shares on issue. I have finally reached the point where I just believe that there are far too many shares on issue.
For me a 10 to 1 consolidation leaving TSN with 170+ million shares on issue needs to be seriously considered at this stage and Indeed I would be supportive of such a move now. There are way to many shares on issue in TSN and the company struggles to break through even on good news like yesterday as impatient sellers unload shares on the news.
Ia lso feel a name change is necessary for TSN as there seems to be some confusion between the privately held TSi Indian business and publically listed company in which we all hold shares.
Whilst other issues like getting bigger contracts and finalising the Salt jv should be at the top of the list, I think some thought needs to be given to a share consolidation and possible name change.
TSN Price at posting:
0.4¢ Sentiment: None Disclosure: Held
