TSV 0.00% 0.8¢ transerv energy limited

My email to TSV below... i suggest everyone does the same....

  1. 1,712 Posts.
    My email to TSV below... i suggest everyone does the same. People power has some effect surely.

    - - - - - -

    To Brett Mitchell
    After discussing the existing share price with numerous other investors we have all come to the conclusion (on face value) that the nature and handling of the recent share placement was not in the best interests of existing share holders. I like many are gob-smacked that a sophisticated investor placement was made literally on the eve of a significantly price sensitive announcement regarding the Warro drill. It can be taken no other way than a gift to those in higher places than the average investor. I can guarantee that all existing holders would have been happy to more than fill the placement should the offer have been presented to us. How silly to think the company would give something back to the masses that have supported them thus far.
    We have carried the risk for years waiting for these times to realise some profit for our efforts. We are now watching that profit transfer to the pockets of sophisticated investors who in some cases probably haven't had any previous exposure to the stock. They can sell their new shares at a profit and hold their options for the future. Where does that leave the existing holders.... Currently nowhere! If the first well was unsuccessful the company is free carried for the next two regardless. Why raise now? Why raise this way?
    Upon success of this well you could have diluted the stock by half as much and probably made double. I'm sceptical about asking for a reply as you would hardly agree with what is most likely true so I'll sit and hope that you have the integrity to concede this should have been done differently and maybe just maybe ensure that the same doesn't happen again in the future. Further to this, i would ask that all existing shareholders (yourself included) make an effort to right the situation and vote down the options placement. Its already hard enough to stomach the share price falling as two day holders cash in on their little win, but to watch these options converted and the process happen again would be too much for me and many others to stomach.
    Regards
    Craig
 
watchlist Created with Sketch. Add TSV (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.