I don’t think it was intentional to damage the SP but when you give away 10% of the company at a hefty discount and don’t give the market a decent explanation people naturally assume the worst, in this case that they effectively bought votes. Anyway that you look at it the wiping of roughly $40 million from the market cap and further dilution of current shareholders can hardly be described as class A management. Comparing previous levels of shareholder participation in placements to the last one, doesn’t give a very good indication in the level that of trust the current shareholders have in the management at the moment and is also reflected in the current SP.
TNG Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
