Apart from the move being a good or bad idea, I am hoping that the whole thing was well discussed and thought through the board meeting/s.
1: regulations, requirements etc for the listing and delisting
2: biggest hurdle the Board will face is the VOTE, it takes only 25% to shut it off.
Having said that, the management has only a few months to present something decent to appeal the votes from us retail holders, who hold 59+% of BRN. TBH, my vote and my mates' votes will be absolutely no if nothing turns up but verbal confidence. To me, that is insanity combined with stupidity.
How comfortable do I feel there is a good plan in the pipeline to convince us?
Common sense tells me that must be the case since no board member is stupid even some here call them incompetent. They can surely think through the things we could think through. On top of this, Peter our funder's endorsement to this move gives me more comfortability unless he starts selling in the next few months.
But, a big fat but, I hate to say this though, I feel nervous and anxious coz this Sean has a track record of decision making without common sense, I 'll throw in a few:
1: Sean said in last AGM that no CR in the foreseeable future 2 months before the 19.3c CR, he was either lying or the CR was a swift decision. Guess what, money raised and sat in the bank suffering exchange rate paper loss. And this Sean even dares to say that we don't hedge, which made me believe all the years I have been hedging to minimise my exposure to currency fluctuation are wasted. (I am in the building industry and buy overseas material all the time, we pay a bit premium to lock in the rate so we know where our margin is)
2: LDA was paid to leave July last year, guess what, they are back on board with warm hugs 5 months after. I am seriously disgusted to make any sense out it. Isn't paying them and keep an amendment in place better that the current dealing?
enough venting, but still in the hope that common sense prevails.