I'm not supporting the sale. Disgusting outcome.
What did I say about being sold down the river? Absolute disgrace. Boynton and the remainder of the Board should be ashamed of the enormous value they have destroyed. Honestly - one of the finest resources in the country and the most imaginative thing they can come up with is selling the farm for less that 2 cents a share. Joke. Not even an opportunity for a script deal? Especially after watching the share price being gamed for over 12 months. The only thing that has been done effectively is ruin a great opportunity and ruin the reputations of all involved.
Also - where's the competition on the bid? In my experience single bidder auctions don't derive much value for vendors! Board should be creating competitive tension with at least 3 bidders. Very slack on their behalf and nothing short of a cop out. Honestly, if you can't create value in something, hire some management that can rather than rolling over to the detriment of the entire shareholding.
China 1 : Australia 0.
As a country we will look back and regret these mindless decisions.
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- our board just sold the farm for $0. vote no!
I'm not supporting the sale. Disgusting outcome. What did I say...
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