Gosh there are some nut jobs on the board today. Everyone needs to chill and let the news flow come. I would suggest, based on the announced information, that there is a fairly strong chance a takeover is coming but its not gaurenteed. In the event of the directors killing a deal that was "reasonable" for the shareholders and then, as some have speculated, sold their shares to someone else and sent the company broke both ASIC and the ASX would be all over it. Regardless of the toothless tiger perception of both. Shareholders could then sue the directors etc etc etc. The people paying for Gino's shares wouldn't do this for fun and in my opinion it's part of a structured deal that will be a good outcome for shareholders.
It's been messy, but all will become clear when we see the details and the structure or the deal next week. Gino has made it clear that they want to sell for the best price for both himself and the shareholders. Nothing thus far has made me think this has changed.
There is bugger all point in widely speculating about the company closing , dodgy deals or some of the other crazy inferences being made. Have a good weekend, relax and wait for the actual news.
here's hoping for a ripper on Tuesday
MTC Price at posting:
26.0¢ Sentiment: Buy Disclosure: Held
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