Member Info for NormaStits

The locked box date was stated in the Circular on 9th January. Nobody hid it away. It’s not my fault if you either didn’t read it or don’t know what it is. Not meaning to be rude or silly. It’s not about intelligence either…it’s about using info we were given.

Only the terms of the SPA disclose everything. We will never see that.

They don’t need to shout it from anywhere. They provided the information for investors to make an informed decision. It was there. I suspect some people didn’t want to see it as they were too busy getting angry and reaching a conclusion as soon as the deal was announced.

Neither they nor I have to provide the interpretation of what’s made public. That’s your job as a shareholder. I did it. Add a little imagination on top (which is required for pretty much all investment decisions) et voila, one has all that one needs.

The reality remains that none of us know whether this will work out ok. I am in favour of it, you guys were not. Not much point debating it now. I don’t have time or interest in unpacking what’s behind my view. Headlines only. I hope you don’t sell and move on as you’re good guys, and I have enjoyed the ‘limited’ engagement on this one.

Guys, all this information was always out there. It was provided to you January 9th. This is NOT a revelation or anything new. Did anybody bother to read what was provided or listen to what was said on 10th?

FFS…

Not so. It may have been discussed prior, but not necessarily. The locked box often uses last formal audited accounts (or other agreed accounts). No smoking gun.

I think it’s unlikely to be wrong, but there is always a chance. If unfamiliar, worth looking up the application of the locked box process…what it is/isn’t.

Appreciate I am pretty much a lone voice, but want to just get on with this deal now so that the benefits of it start to accrue to those shareholders that stick with SQZ…

I can only assume the effective date is indeed 2021. Reading the circular thoroughly is helpful in forming a judgement on the deal. I certainly did…seems some did not do so?

It will have been read in extremis by lawyers and advisors on both sides. If it’s a mistake, good chance the vote is invalid.

Mitch also referred to it in the call a few weeks ago.

Couldn’t have put it any better.

The other day, you literally said “The only way this SP is going to rise is with a NO vote and the Board resigning…” and today it’s “Nice intro from our Chairman”. Wow. Which side are you on?

Well I am, and it is a very small minority that do not behave as they should. I know you like to lash out, but poor morals and behaviour are not rife. Perception and reality diverge significantly on this one. Naughty behaviour was much more prevalent years ago (in your era) and amongst ‘provincial’ stockbrokers.

;-)

How many of the active and highly opinionated posters on here attended the meeting this morning? Thinking especially of those that oppose the transaction, did you have an opportunity to question management and get answers or reactions to your opinions?

Wouldn’t surprise me if that box proves very fruitful….

Early on the sauce and vitriol today upomega?

Today. If it’s No, then decent chance he would go anyway. The clock likely starts on his tenure if it’s a No vote.

NewK. Don’t be silly. I hold this PA not in clients’ portfolios. Firm is way too big to invest in sub 1bn market caps. I don’t believe I was talking it up either. I have consistently expressed a “no idea” stance, despite being a Yes. Like every other bugger on here, I. Have no idea what will emerge from this combination, but happy to roll the dice on it. If it doesn’t happen, I will be totally unmoved by events.

Infor - Please can you list those other investment opportunities and the price at which they were on offer plus their value accretion. I ask out of ignorance rather than judgment.

Strong closing statement TerryM, and I hear where you’re coming from. Cannot judge the KIST ‘proposal’ of 6 months ago through today’s lens and market conditions. Most were spitting fire over it and some now lamenting its termination. Funny old world.

If you sell/have sold, wish you all the best. My own view is that value will come through here in time.

Totally get you Dennis. I too hope it’s < 3 years….and have already held this for > 10. I guess that puts us in very different positions as the divis I have received have already covered my purchase price.

Somehow I am confident you will make a decent return, but I think it will take a while to work out as this business evolves. The (unpublished) plan to leverage the benefits of the combined entity move this thing to a new phase. Execution risk will be higher, but so will the rewards if successful. That is very reminiscent of the SQZ share I bought 10 years ago. An earlier (also unpublished) plan was also forming back then and, well, that turned out ok and multiplied my value 10x, as of today.

See you around.

Indeed. However, I don’t recall a bunch of support for the offer when it was on the table so little point in looking back at it with wistful eyes. There is a chance (great or small, absolutely none of us know) that 3 years from now we end up in a good place.

To any that sell and move on because they don’t like the future, I wish you nothing but the best. I am happy to roll the dice and see what the next chapter brings.

…but it was your own cash…