The management is trying to buy up your shares on the cheap. Your sellout loss transfers across to them as profit.
The threat to move to UK means professional investors decline to buy. Shareprice drifts.
We dont know the agenda [ but mop up of small parcels is telling us they want to clear a pathway ] so the most disruptive stance is to delay the accumulation of shares by TSM
What they hope to achieve with the buyback tender in 2 months might take 3 years in the open market.
My response is to tender my shares @$0.41 cents. But not all shares. I have held onto 4000 shares ; ie 2 parcels of $500 worth. If we all did this it should help negate the present proposed mop up of small holdings as evidenced in the buy back tender. Cl 2.10 in ASX rules talks about insufficient shareholder spread and the conequences.
Delisting from the ASX could be achieved by not paying the listing fees. [ My interpretation ]
I don't know but imagine that a cowboy attitude like that would bar a subsequent listing on the AIM in London
TSM Price at posting:
33.0¢ Sentiment: Hold Disclosure: Held
