Caff,Sean----- Time to call a halt to these nonsense posts. They add nothing of value to this message board. I just wish you all success in all your investments without the need to continue to launch endless personal attacks and name calling. Please, act like adults.
I would rather people show some common sense then their balls. We can almost all agree that the conversion deal is inadequate insofar as IMOS shareholders are concerned. But, what are the reasonable alternatives. There don't appear to be any that will bring the IMOS share price closer to fair value any time soon. Rejection of the deal will cause yet further delay, impose needless additional costs to maintain IMOS, and leave IMOS as a holding company trading at a significant discount to net asset value.
The conversion deal presented for approval is obviously not one many of us expected. It falls far short of providing fair and proper compensation to the IMOS shareholders for the sacrifices they made to enable the spin off of 8150 and end the convoluted corporate structure. Nevertheless, I have decided to vote in favor of the proposal because I see no reasonable alternative. If the proposal is rejected, I believe it unlikely that management will offer us a far better proposal any time soon. And,a possible takeover is a long shot that I am not willing to bet on. So, if the deal is rejected where are we?We remain a holding company that is selling for significantly less then fair asset value.Also,the fact that we lose control of 8150 as a result of the deal without a significant premium,is ameliorated by the Tsinghua deal,which, if and when it is completed, will also strip IMOS of its control of 8150. If IMOS remains a holding company without control of 8150 it may sell at even more of a discount then presently exits. In short, the deal before us stinks,but I see no alternative to end the discount and get the stock price closer to fair value. Rejection of the deal will cause further delay with a very uncertain outcome. I therefore held my nose, voted against the directors,but voted for the conversion deal.