Gear’s break-up and delisting lowballs minority investors and does nothing for the environment

WHEN shares in Golden Energy and Resources (Gear) suddenly swooned last Tuesday (Nov 8), I grumbled to my newsroom colleagues that they had crashed one of the best-performing stocks I happen to own.

Earlier that day, The Business Times had published a news report and a commentary about coal companies possibly facing financing risks as banks become increasingly concerned about environmental, social and governance (ESG) issues.

The news report and commentary – which specifically referenced Gear – said that coal companies might have to restructure themselves and offload assets that could become stranded as funding dries up.