Does anyone else find it absurd that Tandou are having a large and forced equity raising at a huge discount to NTA and using half the proceeds to buy water assets, presumably at a fairly full price. It looks like this company is being run for management rather than for shareholders.
Can anyone make the case as to why this equity raising is good for per share value? I don't see why GPG have put up with this. It seems to conflict with GPG's own goals of gradual liquidation. Glad I sold my TAN stake a few months' back. Not sure I'm interested in getting back in with this sort of stewardship.
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