We need some bonafide shareholder activists! The management do need to experience some heat at the AGM, but we must be careful not to cut off our noses to spite our faces. We need to focus on solutions,options and progress.
As for a "rebel fund", I have doubts that it could raise enough because people have already lost money and heart with ADY. But if we assume that the fund could buy Rincon for the same deal as Charge proposed, it would take:
36 million/1.13 billion shares = 3.2 cents per share currently held.
For me, this would be around 2 grand, as I hold around 60000. I'd stump up that and more, if it could be pulled off.
ADY Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held
