If APAC does well they get the benefit of an increased share price. If they want to control the entire company and have it do what they want, then they should buy the entire company in a takeover. If not they and the company should be acting in all shareholders best interests and follow any other ASX regulations.
The best interests for shareholders is a dividend or buyback. If MLX was on the brink of collapse who cares? They aren't now. Rentails sounds like a convenient excuse for cash hoarding, but a decision is a long way away and they are generating cash to pay for it anyway. If it so incredibly expensive that we need hundreds of millions then it's probably not worth it anyway.
Activism would simply bring forward behaviour that a normal company that isn't controlled by a major shareholder should do.
Don't get me wrong - good work from APAC. But let's hope all MLX management move forward in all shareholders best interests.
Alternatively the tin price just goes berko with Wa state mining suspended and the tin scandal in Indo and share price rockets anyway.
MLX Price at posting:
30.5¢ Sentiment: Buy Disclosure: Held
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