I guess I can be considered one of the "vigilantes" so i'm have a go at explaining.
I'm not a market maker, I have no pull with management, I am not involved in insider meetings. I know what ASX announcements tell me and nothing more.
Just an average Joe who enjoys following the stock market and putting spare cash where I think there may be a return.
As a TMT holder, we were given a story of closing in on a final goal, EPA approval (a big milestone) coming up, SP really at a low point but genuine excitement that we were reaching a pointy end, as per TMT telling us this, and then the merger came out of the blue.
And yes at a price that was barely break even on the current low SP, and taking none of the potential many of us believed in into account.
I am not going to list 100 reasons why I was personally unhappy with the timing, explanation, stated plan going forward, apparent lack of clear synergies, and the price. Irrelevant now, and the last Month I have taken a much more optomitic outlook on what's possible together, so I may not even agree now with half my reasons from 4 Months ago.
Bur given many of us had the same sentiment at the time, we pooled our resources (our voice, the only thing we have as shareholders, and our vote, a right every shareholder has), to let management know we believe our company is worth more than we have been offered.
You don't have to agree, no one was asked of forced to agree, and anyone who didn't was equally entitled to their opinion.
I still after all this time have no idea why Sabine took the above so personally and was so extremely offended by shareholders asking for a better deal. It makes zero sense, and i'm being hyperbolic here, but my only personal guess was maybe Sabine is married to someone at RCF or something, and it 'literally' hit home every night that these nobody shareholders were throwing a spanner in her husband's wonderful deal,,, and it p!ssed her off!! Yes wild speculation and obviously wrong, but what else can explain someone taking it so personally? It makes no sense to me that any other average person would begrudge anyone else from exercising their right as a shareholder.
I'm not talking about if anyone personally offended Sabine or was insulting in an arguement, no excuses for that, and I hope nothing like that ever came from me, but I don't understand at all why are we still hearing this ' greedy grubby selfish unruly' story line about average mom and pop investors saying "hey management, we don't think this is good enough".
You don't have to agree even 1%, that's your choice. Even if you felt 8:1 would have been a good deal, fine, no one would have begrudged you that view, but it was endless posts day after day attacking and picking at anyone who voiced unhappiness, and it made no sense then, and shockingly even though the deal is done now and everyone has moved focus onto making the best of One vanadium company to rule them all, Sabine is still disgusted with a few TMT shareholders for voicing their thoughts and wants to start it up again.
It still makes no sense.
I can't beleive I have felt the need to go over this ground again for probably the 10th time.
I hope as an AVL holder now I have just as much right to exercise my voice and my vote if this management too take a turn towards something a majority of us aren't happy with.
Maybe/hopefully we can have Sabine on our side next time.
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