Share Purchase in TDC?????Hey Mates,
Does anyone over there know whether management can unilaterally invest in another company without shareholder approval? In my opinion our CEO's position has gone to his head. Under no condition would I vote to buy shares in Tyee!
Two years ago Ormetal Report, which I subscribe to, recommended TDC. I did a thorough dd on the company, and concluded the chances of it's going into production was slim to nil. And at that time there were 200,000,000 shares fully diluted. Now my estimate is more than 400,000,000 fully diluted, and in my opinion a share consolidation is inevitable down the road.
To invest $1M in a company that has increased its float by a factor of 300+ in just 10 years, and then be appointed to the BOD concerns me great deal. There are a lot of questions that regulators should be raising at this point in our "development".
Feedback welcomed.
Brit