Do I have a balanced or biased viewpoint...I did reluctantly post my last message because I did not want to cause offence, something I try to avoid.
I do feel strongly; however, that this proposal is a good opportunity for both preferred shareholders and common shareholders--and in my opinion, it strikes a reasonable balance between the interests of both groups.
Given my enthusiasm, Treetop can perhaps be excused for thinking that I am a management lacky. Since Treetop only joined in 2011, they are perhaps not familiar with my long posting history here (I joined Stockhouse in 1998)--a history that has more often than not been critical of this company's management.
In 2010, I had this to say about another preferred share restructuring attempt:
I hold both perf. and common shares, and as a preferred shareholder, I will certainly be voting against this reorganization. The commons are being rolled back from 10 shares to 1 while the preferred shareholders are being asked to take twice the haircut, facing a 20 to 1 consolidation. I can't see the fairness in that. The controlling shareholders (holding mainly common shares) who have steered the company to it present course should be the ones taking the haircut, if you ask me.
You can read the original post here:
https://www.stockhouse.com/companies/bullboard/v.igp/imperial-ginseng-products-ltd/2?postid=17705221
More recently, a few months ago, I allerted this group to a IGP board attempt to introduce a dubious stock option plan--a plan that was subsequently defeated.
https://www.stockhouse.com/companies/bullboard/v.igp/imperial-ginseng-products-ltd/1?postid=23149243
As I said, I have been, more often than not, skeptical of management, but if I agree with one of their initiatives, I will support it, as in this case.
I strive to form a nuanced analysis of my investments--one that's informed by a certain amount of historical perspective. And I personally welcome reasoned criticism and feedback, as I am always trying to adjust my views.
As Treetop wrote to me a few posts back, "
Thanks for keeping the discussion going."