Recent moves by the Executive Team:
One of the significant developments that changed the group’s fortunes was the selling-off of TVL’s ownership in Metrodome. This allowed more liquidity in the stock with investors bidding for Metrodome’s stock in ever greater numbers. This move had also taken care of some persistent problems facing the company. For example, the TVL’s sell-off had increased available funds which translated into more projects in recent months. It had also eliminated the negative effects that TVL’s decisions had on Metrodome’s stock. In the words of Metrodome’s Chairman,
“As a result of this private placing the Company has attracted new shareholders resulting in an increased number of shares in the market. At the same time we were able to discharge a significant loan and accumulated interest of 1,122,000 pounds back to TVL as part of this placing, by way of a debt for equity swap”.(Chairman’s report, Annual Report 2005-2006)
So the move has had many positive consequences for Metrodome. This is a unique financial advantage that Metrodome enjoys over its competitors, including Eicom and Electric Word.
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