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11:02
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Originally posted by SLewis
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Hey Tinwins,lose nothing if Redflow went under, but stand to gain millions if their plan succeeded (I agree with the board that this plan is still not entirely clear). Any businessman would be irrational not to offer up such a proposition. There is simply no downside risk for them. They are investing - as far as we know - not even a dollar. Sure they volunteer some time and make a few phone calls and if it doesn't work out, so be it. I note Mr Jiang believes Redflow is undervalued. Why not take a significant stake on-market? It would certainly improve his chances of seeking election, plus add some weight to the proposal. I personally do not see any sense in voting for Mr Jiang's election. I think having Mr Hackett as a systems integration architect, that is, still actively involved in the company. Along with the fact that 2021 will be the best year Australia has seen for battery investment by a long shot, gives me the confidence that this proposal is an absolute steal. I am still optimistic. The speculation about voluntary administration is bullshit in my opinion. Excuse the language, but why would a company with phenomenal IP, no debt and net assets of $8.5 million file for voluntary administration? I honestly do not think we are in the dire straits that some other posters seem to think we are in. I say vote down the remuneration package, vote down the performance rights for the MD, but this offer is not the way forward.
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2 cents worth ? Thats a whole dollars worth SLewis and I thank you for the articulate response to which I can agree.
(20min delay)