Ann: Change in substantial holding from MUFG, page-10

Moved the order up again and ended up taking 10k more OMN at 80c at yesterday's close.

Did some research on Samuel Terry Asset Management. They appear to be open to 'activist' type behaviour in order to unlock shareholder value. Last month, they instigated a motion for one of their investees, some Singaporean property fund, to wind up the business. The business was trading at a discount to NTA. 

They do state in their latest investor report that they see their OMN investment as an 'all or nothing' bet, one where they feel the the weighted probabilities favor the investor. So clearly they aren't thinking about OMN as some kind of activist play at the moment.

I do have a feeling that 6 or 12 months from now, if we're in the same place we are today (no sales, zero traction on stated tech goal, hefty losses) we might see Samuel Terry move to put forward to shareholders a motion to wind up or change direction of the businesses. In such a vote, given the circumstances, how many shareholders wouldn't vote for change?

I also hold hope that if OMN's project flounders badly, that management will end it on their own volition. Bougainville Copper management turned their company into a LIC after their copper mine got overtaken by locals. BOC management saw it had a failed business on its hand and decided to take what money it had left and invest it in other businesses. I know it's not strictly comparable to OMN, but I hope the OMN board can consider something like this as a way to grow shareholder value, if the current tech vision fails.