aren't we talking about different perspectives here? whilst I admit I have done no research wrt to the sale of NLNG land, it seems to me that the fact that (a) STO may have plans to sell the NLNG land (b) STO/TRU have an agreement to sell the NLNG land and distribute said proceeds , is not really an issue for ESG Board.
ALL that will happen after ESG/STO S of A gets up.
whether to sell NLNG land is a decision for the new owners of ESG. we don't get a look-in.
the MOU is between TRU and STO - so ESG would have had no input into that MOU, and that would explain why IK might not have a detailed understanding of it.
as a seperate issue, it still beggars belief that we on HC can raise so many basic questions wrt such basic issues about the operations and value of ESG, that ESG can still claim that the market is properly informed!?
I still have not seen a proper response from ESG as to WHY ESG is for sale at approx 90c - and in fact as to why it is for sale at all!?
if the game is up at ESG, then how come we s/h, and the market must wait 1 mth - 2 mths for an IER to attempt to explain/answer those very, very basic of questions.
how can the market be operating in a properly informed manner if it does not know the REASONS WHY the Board of ESG has agreed to sell the coy?
imho, everyone who has traded in ESG shares between the bid date and the date of publication of the IER report, is operating in an ill-informed market.
the IER review should be a document that confirms/doesn't confirm the issue of fair and reasonable value.
the IER should not be viewed as a document which provides the EXCUSE or reasons why the directors have made the decision that they ALREADY have made.
ie it is up to the directors of ESG to justify their decision to sell, not the IER, and that justification should have been provided to the marketplace at the same time they notified the market that they will recommend that s/h vote in favour of the Sof A. To say that it is dependent upon the IER begs the question. To state that the market must wait for such important and basic info is untenable imho.
the ASX and ASIC should not allow the market to operate in a vacuum.
it is clear that some section of the market knows what the reasons are - but the bulk do not.
if there are reasons for directors accepting the offer which are known to directors NOW, such as poor reserves, problems with water, uncommerciality of NLNG, pipeline issues etc, which are material enough for them to flog the entire coy, THEN those reasons s/be released to the marketplace now!
cheers
ESG Price at posting:
79.0¢ Sentiment: None Disclosure: Held
