In a way, the CTP board did gauge shareholder appetite to a bid.
The original 17.5 cent offer was made on 14 November, 2016. The revised higher offer was released to ASX on 10 March, 2017. Between these two dates, it was fairly clear that a revised bid could be coming and the 20 cent price was only breached (at close) on one occasion through numerous trading days.
During this time, if shareholders thought it was worth more, they were not willing to push it above 20 cents.
Aside from this, I am not sure how the board can assess shareholder sentiment without breaching the confidentiality of the bidder (usual in these approaches) or breaching the ASX continuous disclosure guidelines via approaches to individuals.
Thoughts??
AL
CTP Price at posting:
18.5¢ Sentiment: Hold Disclosure: Held
