Ann: Tremont Makes A$0.33 Per Share All Cash Offer for Cradle, page-10

Like everyone else, I am staggered.
The question is : why are the Directors selling out at this level?
They would know the current status of the financing/off take deals.
If the deals are imminent and are certain to lead to production go ahead, they know the potential value of their shares under this scenario.
Then Why?
There has to be something more.
Relating the attractiveness of the .33c offer to recent share trades, given the endless delays in the negotiations and subsequent shareholder frustration, is not a valid basis for accepting the offer, in my view.