Service Stream shareholders have an important meeting coming up. On 19 March we will vote on a placement that will take the Thorney Group's combined holding in the company from less than 20% to more than 28%.
As a 6.5% shareholder in the company, we're not happy about it. Whilst fully supportive of the company raising capital, we don't think the board needed to hand control to Thorney without having to pay the rest of us an appropriate premium (in fact, they have done it at a price that is well below our estimate of intrinsic value).
More details will be provided over the next few weeks but our first step is to gather some data on our chances of voting the placement down. If you own Service Stream shares and want to know more, please enter your details in the form below (or click here if the form isn't working). And please spread the word on Hot Copper, other share forums and amongst friends and family.
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