"Any institution the board can entice to invest will want to do so on their terms. I dare say not the terms of us dumb retail investors who see a rising SP and think it's truly reflective of the underlying value of the company."
Yeah yeah I know I'm only speculating still but maybe TNG have been having a hard time finding an institution prepared to invest who doesn't also want a seat on the board.
From TNG's perspective IP protection comes to mind. SMS may be insisting on it also as they have IP involved in this that they would want to protect.
Just a thought.
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