What exactly9 Feb 2022 13:24
Is the point of holding Thinksmart shares now? The reason people invested here was because of their call option with Afterpay which valued TSL at around 160p per share. Now that the directors have decided to gamble that guaranteed cash windfall for shares in Block, as far as I can tell the only reason TSL now exists is so the directors can continue to pick up their paycheck. For investors, we are essentially just paying these guys to hold shares in Block for us. Would it not be cheaper to sell TSL and buy Block? Any ideas welcome because I don't see what the point of this company is now.
Don't think I have ever seen such unnecessary destruction of shareholder value before. Nobody won with this deal and I can't get my head around the fact they thought it would be a good idea.