There are a few interesting questions. The board has obviously decided to destroy the market for TBR shares as part of some strategy, presumably in an attempt to retain the level of control they have had in the past. ASIC have shares to sell and also a responsibility to shareholders to ensure they do not destroy their value. The Corporations law is very clear, TBR CANNOT own shares in itself, so they must be sold. What is best for the company is that the shares are obviously sold for the highest price, for this to happen there needs to be some proactive effort on the part of the board.......as yet they show no signs of doing this. ASIC needs to obtain a reasonable price and the board has actively destroyed the price.......a big stand-off....But it does show who's interest the board appear to be acting in.
As to Ghana from memory the company has spent just short of $300k on tax compliance services with the tax accountants PWC Ghana over the last 3 years......What's that all about??????..........If you are only spending money the tax issues should be minimal........To put it in perspective it's LESS than they paid Grant Thornton for the audit of the whole company, and SIX times what they paid for tax advice in Australia.....it is a really big WHAT THE???
Bottom line the board needs to be replaced.
TBR Price at posting:
$3.97 Sentiment: Hold Disclosure: Held
