Glad you went there with the house analogy. Happy to play that game.
If you went to a house auction, you are going to throw down a very low ball offer to start the auction. A fanciful low ball offer that everyone knows will not get you the property. This was Pfizer's 11.5 cent offer.
Then the bidding slowly kicks off. This is Pfizer's 14.6 cent offer.
Based on coms in the market (i.e for ResApp shareholders the independent expert report) the owner knows the value of the property (here for ResApp, the shares are worth between 14.6 - 27.9 cents each on a conservative basis).
So what should the reserve price be? The reserve should be no less then the mid-point. In this case the preferred value of the independent expert report of 20.7 cents.
If Pfizer wants this property they will need to offer at least that amount to even entertain the seller (here ResApp shareholders). Or else the seller will be happy to hold the property (pass it in) and test the market at another point in time for greater upside.
Pfizer's current bid is out of the money. If they want the property they will need to at least meet the reserve. Up the offer to 20.7 cents and then shareholders can at least think about it. Until then, tell them they are dreaming...
Your scare tactics and agenda is very obvious.
Strong NO vote at the current offer price.
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Top-up fundraiser, page-128
Currently unlisted. Proposed listing date: 4 SEPTEMBER 2024 #
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