Another email update just send out to those who registered interest ....
Hello again,
A few updates to start this week.
First, regarding media coverage, I earlier undertook to the lift the profile of TNG, in the context of the important global thematic of critical minerals. TheAFR articleat the weekend, and my appearance at theAWU’s Biennial Conference, is only the start.
Regarding the AFR, I confirm that I will not be writing my regular column during this period. This was at my request. I confirm as well that I requested the journalists I work closely with at the newspaper to recuse themselves from any coverage. This is best practice.
On the article itself, I would like to clarify that I no time have I claimed ‘the support of the German shareholders’. To do so formally might inadvertently bring the collection action regime into view. My position, stated repeatedly, as that I have established an ‘open and constructive dialogue with all major shareholders’.
In this context, I confirm that if TNG’s management decides to the protract the Change, I will be traveling to Asia and Europe to further these dialogues in person.
Second, I take issue with the following comments from Mr Paul Burton:
“Doing an action to get on the board only has one outcome, and it’s bad. Whichever way it goes it damages the company, and it creates a huge amount of uncertainty”.
While I am pleased that Mr Burton went on record, his comments are fundamentally wrong.
The Change I am seeking is the most positive and exciting development that TNG and all of its stakeholders could possibly wish for. The new era will be infused with dynamism and optimism and opportunities as well.
I expect that the share price will resolve materially higher as well. For those following HotCopper, you can find the framework I was using regarding the ‘management discount’ that is being applied to TNG in my post ofJuly 10. This was before the other shareholders in this action reached out to me. It is still how I view the valuation of TNG.
I confirm as well that the handful of posts I made on Hotcopper this year are the only posts I have every made on the forum. Consistent with the comments on******, I will not be posting during this period, nor will other requisitioning members.
Finally, a reminder of Roadshow events this week, as follows
Canberra: Tue 6 pm, at the Realm(this venue is now confirmed, Boardroom)
Melbourne: Wed 6:30 pm, at QT
Brisbane: Thu 5:30 pm, at Dexus Place
Perth: Fri, 5:30 pm at QT
Please confirm attendance, and spread the word. Media is allowed this week.
I note that the former Chair of TNG, Mr Rex Turkington, has confirmed attendance in Perth. As a shareholder Mr Turkington is welcome to come along. Consistent with my comments on Friday however, I will not be available to meet or discuss any aspect of the Change Management campaign with him directly, and attempt to disrupt the session will be referred to hotel security.
I reiterate my hope that management will soon come to the table, with legal representation, to commence negotiating an orderly and peaceable transition. I will be available in Perth to facilitate this, with strict confidentiality in place, should they decide to do so.
To do so would be in line with Mr Burton's own comments, as it would quickly resolve the "uncertainty". Clearly, as well, a decision to push any vote to the end of the statutory period would protract the process and not be in the best interests of TNG. Shareholders want their voices heard, and want that to happen as soon as possible.
This is a time for action at TNG.
Let's go,
Grant.
