I have come to the conclusion that the Vimson deal was not brought up at the AGM as everyone knows why the deal was done (block the Browns) but what the board did was legal in terms of “raising capital”. It may not have been ethical but they have the right to raise a certain amount of capital and they did, unfortunately it was done looking after their best interest not ours.
I am worried this will happen again as the result was a close call and they will want to create a buffer. I don’t like it but we as shareholders have signed off on their ability to raise capital, we are stuffed unless the Browns decide to buy a s#itload more shares on market to bring up their %. Feel free to correct me on my thoughts but it is the only explanation I can think of.
TNG Price at posting:
10.5¢ Sentiment: Hold Disclosure: Held
