i personally dont think it will go ahead

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bratt90

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16/11/20

15:13

Post #: 48907832
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Originally posted by bluebottle18 ↑

Once again they have shown they are out of their depth and the BOD are not competent enough to deal with this transaction.... IMO....... If you read another an announcement concerning relisting they have been talking to the ASX concerning these rules to avoid delays, it appears this has been ongoing for some time. I can not believe that Longmile have extended the time frame. Why would you want to deal with a two bob company when there should be a lot of other companies in the industry with the cash to buy this technology without the drama and hassle LONGMILE are being asked to do....
What I am very concerned about is there is no mention of a deal been done pending the compliance of ASX approval. Surely by now they must have come to an agreement about terms + conditions of the buy out ..... There is no need to give the details of costs etc but to announce details of this will be disclosed when the ASX gives the approval.... The announcement should contain that a GENERAL MEETING will be held seeking approval for the purchase as I am sure there is going to be some conditions needing S/H approval.
__# To be fair in my comments I have taken into account that these sort of deals do test your patience ... and require quite a lot of time in waiting for approvals to be signed by each party.. It is not like you are renewing a licence or its an over the counter type transaction.... However I do get the feeling that there appears to be a lack of competence and expert skill in having this finalised.... I also doubt they have forward plans on how this Technology will be promoted and used. IMO they are a bunch of cowboys ...... IMO if the company have finalised a deal why has it not been announced... IMO if the BoD know what they are doing why are they continuing to seek ASX advice... Should they not be presenting to the ASX an application seeking approval.... for the purchase of LONGMILE. and here are the terms and conditions in which they have bought the company.

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i personally dont think it will go ahead

FTT Price at posting: 0.5¢ Sentiment: Buy Disclosure: Held
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