Quite a threatening and bullying announcement to existing shareholders who have not sold. Have acquired 59% ownership and have swept the broom through the EAR management and replaced with NST staff.
Obviously with a majority shareholding, there will be no counter bid by a third party. The question which needs to be understood is if you accept the 33c offer, if a superior offer is then subsequently made by NST to obtain remaining 100%, will shareholders who sold for 33c also be eligible to be paid the difference between the higher off and the 33c?
EAR Price at posting:
33.0¢ Sentiment: None Disclosure: Held