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TrigZAU

4 Posts.

05/08/24

10:15

Post #: 75069367
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Originally posted by homer88: ↑

whilst the option of liquidity is good for those that want it, I'm a little turned off by this.

- we haven't had a company update since FY 2023. they were previously very consistent with quarterly updates all through 21, 22, 23. what gives?
- given the TGA action you'd think they would update their shareholders..?
- given the expansion into the UK you'd think they would update their shareholders..? could be a huge catalyst for more growth.
- given the track they were on (growing like crazy and winning the deloitte award 2 years running) you'd think they would update shareholders..?

most importantly, currently the major shareholder (the founders) own ~83%. if the full amount of shares are bought back via this offer, it will go to 93%. If they gain >90% of shares they can force a compulsory acquisition of our remaining shares ie force you to sell your shares to them. i don't like that at all! I was in this for the long term..

they have given no updated financials or any reasoning for how they arrived at $1.15 so it's hard to evaluate the offer. but given they are close to the 90% ownership threshold my guess is they are going great and want to take full control of the company.

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Thanks for the insights! For my small parcel, I doubt I'd sway much but I'll hold strong, not breaking the bank anyways!
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