TAS/EDE relative values, page-445

The difference is, by law the directors when wearing the TAS hat must at all times act in the best interests of TAS shareholders. When wearing the EDE hat must act in the best interests of the EDE shareholders. This can go as far as not allowing them to vote on items where "the other company" has a vested interest.

From personal experience I was taken to task by a shareholder ( a very minor one) who made a complaint that I would favour another company in a take over deal. As it turned out I had not used my vote following legal advice prior to the meeting where the matter was to be discussed.

I would be prepared to act as the devils advocate if necessary.

Don't expect me to change my mind. I don't expect you to see it from any angle other than your hope that TAS will outshine EDE. I'll let the future tell the story. in the meantime I will relative value trade using MY values based on MY reasoning. There is a limit to my patience.