Ann: Appendix 4C - quarterly, page-27

In the Annual Report to Shareholders, Russell Yardley Chair of the TNT Board says.....

"It is your board’s view that our current share price is undervalued"

Agreed Mr Yardley.  As erudite as ever.  

My only point to the Board, especially Keith Glennan, would be this - put your money where your mouth is and start buying TNT stock at these levels (which I have been doing and I am on a hell of a lot less coin than Keith).

Accept the Board is taking some of their fees in TNT stock, and that Keith already has a large stake in TNT.  Tick Tick.  He has the same interest as every other shareholder.  Presumably he is desperate to avoid a capital raising which would dilute his stake.

But Keith is on close to $300k - be clearing close to $4000 a week.  No issue with him being well paid for his significant expertise in IT and managed security.  Good experience doesn't come cheap.

However, if the share price is undervalued as the TNT Board think, and given it is now 70% down on the IPO price of 20 cents - it wouldn't be unreasonable to think that Keith could should support to other shareholders by putting say $1000 per week into buying TNT stock at these prices for say 10 weeks (ie $10k).  Not to artificially pump of the share price, but more as a show of support to us little guys.   

Symbolic I know, but I think it would be a good way to show support to minority shareholders who have been underwater and sitting on significant losses for almost 2 years.

Also wouldn't be a bad PR move for Keith to stand up at the AGM in 2 weeks time and tell other shareholders he feels their pain, believes the share price is hideously undervalued and has been buying stock at these ridiculously cheap levels with his own cash.