Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Tenaris ADR Rep 2 Ord Shs T.TS.B


Primary Symbol: TS

Tenaris S.A. is a holding company, which is a steel producer with production facilities in Mexico, Argentina, Colombia, United States and Guatemala. The Company supplies round steel bars and flat steel products for its pipes business. It operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods (OCTG) used in drilling operations, and for other industrial applications with production processes that include in the transformation of steel into tubular products. It operates in geographical areas, such as North America, South America, Europe, Middle East and Africa, and Asia Pacific. Its products and services include OCTG, Premium Connections, Rig Direct, Offshore Line Pipe, Onshore Line Pipe, Hydrocarbon Processing, Power Generation, Sucker Rods, Coiled Tubing, Industrial and Mechanical, and Automotive.


NYSE:TS - Post by User

Post by Mediawatcheron Apr 30, 2020 10:30am
284 Views
Post# 30971008

A Question that needs to be asked at the AGM

A Question that needs to be asked at the AGMA question for the upcoming  AGM that I can't ask but needs to be asked.

Dear Mr. Honderich,
 
In your capacity as chair of both Torstar and the Voting Trust, I have the following question:

I have detailed an estimate of the value-destroying initiatives sanctioned by the Board and the Voting Trust over the past 20 years.  It may be high or low in some cases, but it is directionally correct in every respect.  This estimate does not include the significant costs associated with hiring and retaining incompetent CEO’s and CFO’s that have lined their pockets during and upon their departure from the company (with more to follow).  The list is as follows:
 
1.      EYE Weekly/ The Grid - $5 million.
2.      Transit Television Network$20 million
3.      Black Press - $15 million
4.      Weekly Scoop $ - 4 million.
5.      CTVglobemedia$95 million
6.      Workopolis -$14 million.
7       Shop.ca - $10 million.
10.    Harlequin Estimated unrealized value lost $300 million by selling well after optimal timing.
11.    Star Touch - $24 million.
12.    VerticalScope. - $90 million
13.    wagjag - $5 million.
14.    Metro - $60 million
15.    Olive Media - $2 million
16.    Sing Tao - $5 million
17.    iPolitics - $1 million
Total Realized Value Destruction - $650 million
Total Estimated Value Creation - $0 - ?

Since June of 2007, the Voting Trust has collected $109,251,060.00 in dividends (Note - stop to catch your breath).  Those who sit on the Board have also collected million in director’s fees for presiding over the value destruction of more than $2.4 million in market capitalization (More breathing exercises required). 

With the dividend now suspended, cash being rapidly depleted, a sham transformation strategy in place, shares trading at or around $.40 and less than a year and a half left of your control do you (the Voting Trust) intend to leave gracefully or will the next AGM the final appearance of this Board and the Voting Trust before they are shown the door?
MW


<< Previous
Bullboard Posts
Next >>