re: Ann: Sixth Supplementary Bidder's Sta...
I agree with Highopes.
LG seem to be making some sort of effort to help offload unwanted LG shares through a broker with the disclaimer that they are in now way connected to the service.
What is the likelyhood of buyers drying up on the SGX and buying interest being at a lot lower level with the dumping of large amounts of new shares issued, by a broker probably over a day or 2.
34 for 1 is likely to not be worth .019-.02 as anticipated.
At least the waters have cleared a little. we now know.
- Weiss is only in for a quick buck.
- Weiss now only holds 5.4%
- LG holds 59.49% and will get Weiss's 5.4% which means they will have about 65%.
- That MEANS 35% of SBL SH still aren't interested in the deal and have the power to keep the company on the ASX.
LG are half pregnant. They have control of the company and will no doubt control the board. They are still a long way from 90% so they have to run the company under Australian rules at the moment.
If SBL has cashflow issues in the short term they have indicated in their multiple bidders statements that they will put money in to keep it all going until SBL reaches commercial operations and becomes cashflow positive. They can't let the company go under now as it is now their Baby !!!!
We can still force a better deal as there is no way LG are going to be happy with anything less than 90% and compulsory aquisition so they can take the asset to the SGX. They want SBL's infrastructure as a base for all their other little operations they are trying to acquire.
Anyone still holding shares and serious about getting a better deal shouldn't have any shares sitting in the market on selling list of at ANY price.
If holders of SBL shares genuinely want a better deal we need to make sure there are no shares to buy. Rule 1 of Supply and Demand 101.
Lets raise the lowest selling level to .03 cents.
The harder that we make the last 25% (the game is over for all of us once they get 90%) to get the better for all of us holding out for a more realistic value for ALL that gold.
At the moment they are dictating the price. We have held out this long and neither .019 cents on market or LG shares on the SGX is palatable to us. Today was the original final day so 35% say NO.
Lets see how much LG realy want our company ?
Just my humble opinion...Cheers to All Peteski
SBL Price at posting:
1.8¢ Sentiment: Hold Disclosure: Held
