The SLR offer is looking poorer by the day! Hate share based offers generally I like to see the hard cash. I like to put a price on something and stick to it and pay for it in real money.
Back to the initial point of the thread regarding Munglinup. I can see potentially a point of legal challenge. I find it hard to not see the Munglinup asset sale as part of the whole aggregated asset sale. If it is good enough to treat Kundip and Trilogy in aggregate terms then I think the ASX Rules would consider Munglinup part of it also. When there are formal processes/agreements in place between two parties be it a merger by SOA or straight assest sale I don't see how the ASX would see the Munglinup Tenements as not being part of it all. Just the proximity of the transaction with the Kundip and Trilogy deal aggregates them.
Am I right in saying that when the formal merger proposal was on the table and subject to shareholder approval it definitely would have been illegal for PRH to sell off any component asset - to SLR or anyone else.
I always thought the excuse about the LN offtake was a furphy when it came to a reason for taking the SOA merger off the table.
SLR have been playing with us??????
PRH Price at posting:
1.7¢ Sentiment: Hold Disclosure: Held
