I don't think that what the ratio is matters a whit in relation to "the value" in the short term...
Whatever the ratio is in the reverse, you own the same thing after the reverse as you did before the reverse...
There is a "risk" element in relation to the smaller number of shares outstanding versus the same number sustained in the authorized... so that a higher ratio means a larger overhead is left, which means that enables the company in future growth, in raising more capital, in the future, and in taking better advantage of market opportunities as they arise... without management being held hostage to "process", etc.
So, if you think it is useful to limit the management's flexibility... I will disagree... as all that means is preventing them from succeeding, or doing some of the larger deals that they might be able to do soon... at exactly the right time in the market cycle.
That choice is one that only works to prevent the company from succeeding...
Management is trying to position the company in a way that optimally enables them in being able to be brilliant in exploiting their opportunities... which are significant, in this market.
You're apparently lobbying to convince us that you'd rather handcuff management to the current situation... and prevent them from exploiting any future opportunities... no matter how compelling they are...
My interest here is driven by the capability of management... and I want to see that capability be expressed to its fullest potential. I'm not here to relish or lobby for future limits being imposed on them... because of the stupidity apparent in the expression of self interest of a couple other shareholders...
I think if the stupid and self interested are allowed to win... and they succeed in enabling the "takedown" that IS ALWAYS the design of those who are seeking to remove exchange restrictions on self dealing, etc., in order to benefit themselves at others shareholders expense ?
Then, yeah, you'll see that happening... as those who want to take the company private succeed stepwise by removing it from the restrictions imposed by the exchange, first, and then from trading in the public markets.
I value having DHT be a public company more than I value the effort of those angling to take it private and steal it from me.
And, I expect, if management and the new investors aren't behind that plan to chase off the investors by delisting and hobbling management... they'll also chase off the management who are being hobbled by the choices made... with the only result being that you'll take the best situation in the industry and destroy it, while sinking it's ability to exploit its opportunities, destroying the ship and stripping it of any useful value...
The shipping industry is struggling... and DHT is succeeding... as "once or twice in a lifetime" scale opportunities will become available in the near future...
I see the company has the confidence of investors... proven in the recent raise they've just completed...
I want the company management to continue having the capacity to raise as much additional capital as they think they are able to use... to enable them in taking advantage of the opportunities... when the opportunities are there to be taken advantage of...
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