They should give us the BYE shares because it clearly would create value for the shareholders of the company .
The BOD have a responsibility to create value for the owners of the business who in effect employ them .
If they dispersed all the BYE shares at today's valuations , for each MEL share you would get 4.8 cents worth of BYE shares and you would still own the same number of MEL shares .
The MEL shares would have dropped in value but would be worth something .
The recent farm ins reflect that .
That is what I mean by creating shareholder value .
The shareholder would then own shares in BYE a much more liquid business with very good prospects .
If the BYE shares stay with MEL they will inevitably either be sold by MEL or MEL will be taken over by MAY and they will be sold by MAY .
I don't think the MAY takeover is dead by any means .
The honey pot has just got a bit bigger .
They are only looking for control ie 51 % and with the approval they have received from the ASX for Purcell to be able to vote his shares they do not need to convince that many others to get that control .
Let's see what the circumstances are as things evolve over time .
I don't think they should distribute all the BYE shares .
They should sell some to have some cash left in the company after the in specie distribution .
I think that is what they should do but I doubt that they will .
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