Out of curiosity, where are you getting this $7.40 figure? As...

Out of curiosity, where are you getting this $7.40 figure? As far as I can tell, TLS hasn't traded in that range since 1999.
Whilst I understand that, had you bought then (and not averaged down since) you'd be underwater, I don't think it's really fair to criticise management (or specific individuals) for keeping the company at around the 20 year average SP whilst paying out the majority of profits as dividends and dealing with wildly changing Government policies for the telecommunications environment over that time.

Did you think that picking a SP from 25 years ago would seem more reasonable than going for the $8+ high a few months prior to that? I've been invested for a decade and it's never come close to $7.40, so it seems a bit unrealistic to be using that as a bar.