Short letter to the grumpy/impatient.
There has has been a lot of presumption lately about whats good for BRN at the expense and creditably of ( who some seem to think is our beneficial benefactor ) Sean Hehir.
There have been suggestions that he should sell some of his other assets in order to take up his entitlement. The amount involved would be circa $1.3 mil AUD. If for example he was to sell shares that he has held for some time, there could be capital gains tax to pay that would make that idea totally laughable.
Now let me cast a different light on this subject. I have been teaching my eleven year old grand daughter to play Chess. And my first piece of advice to her was, remember all actions have consequences. This is not a mechanical action, so, the idea of equal and opposite does not apply. The actions may have quite unintended consequences.
Consider the what if,?? Sean, instead of taking the neutral position, and selling just enough shares to cover his tax exposure, decided to purchase the shares by leveraging his assets and taking out a loan.
This purchase would be construed as being very positive, and the assumption by shareholders and the ASX, is that he is in possession of positive information that the general public is not aware.
I am happy for Sean to do as he wishes with his personal financial matters.
As for the future, if this bus continues en route to the promised land. I, along with most patient shareholders, will only be too willing to vote Sean a small pile of bonus shares to ease his short term pain.