TBE, This is the trouble I am wrestling with as well. For several years we have sung the praises of management as they have done a great job in progressing the company & our investment in them. Now it seems like they were wrong & the company is only worth the offer or they are selling us a bad deal. The management has also got money in this game. They individually stand to potentially loose out on capatal gain on the shares, own the options that wont be in the money & all their hard work would be for their base salary & allowances already announced to the market in the annual reports. The way I reckon this is going to play out is- Management have been made a substantial offer by the predators to get this over the line & shut up about everything sighting floods, rain, land access laws & what next to impede the flow of positive news. Next it will be MHA consultants have run out of pens or cant find the pencil sharpener so they cant write anything down or something as stupid as that. They wont release any further upgrades until the 2nd quarter next year taking them out of the offer equation. The independent expert will come in with a value somewhat above the current offer. The predators will increase their offer to match the independent expert taking away the resistance. The offer would be somewhere between $2.50-$3.00. The management will recommend the new improved offer & will be off the hook with the shareholders & will get re elected. The takeover will be completed in line with the current timeline & THE PREDATORS GET A BARGAIN. Game over & we have all been ripped off again. VOTE NO!!! I suspect that there is more to this than we are being told. I would really like my previous confidence in management to be restored & an actual good deal for shareholders attained but I suspect we will be disappointed again.
BOW Price at posting:
$1.50 Sentiment: Hold Disclosure: Held
