Ive been reading the latest post announcement comments with interest, particularly those of "centrenow" and "burnieboy". I'm glad there are some shareholders here willing to put the stick about. It makes for healthy discussion.
Its interesting that not all major shareholders were invited to participate. Possibly that privilege is reserved for shareholders deemed strategic to current management.
As with all CR's, the primary concern of management is to bring in new major (sympathetic) shareholders, strengthen key shareholdings, minimize dilution and strengthen their power-base. There is nothing new here. These guys are not cast from a different mould.
I would prefer the CR to be thrown open to all shareholders. It would result in a more open, healthy trading environment. SMD has suffered in the past from thin market. It could only help.
Perhaps my view is altruistic but ultimately not realistic.
SMD Price at posting:
8.7¢ Sentiment: None Disclosure: Held
