And, to start with, IMHO, the cash box should be split up equally by way of a special dividend between all the long term suffering shareholders. That is a beginning of something. But something that I may be willing to listen and take full notice of. Not before!!! Notice that I have said "May Be".
Now, if we are to consider that at the time the Directors told us not to take any action on the offer, we had $53mill dollars in the cash kitty, that would represent a special dividend per share of approx. 14.43 cents per share. Nothing to be laughing at IMO. And yes, even if I was to pay tax on it like someone suggested, instead of giving it to SOL for free.
What I also fail to understand, is that when they told us to take no action, they told us that we had $53mill in cash plus the money that their subsidiary owed us which could be anything up to, and more, than another $16 mill. dollars, while they also said that, according to the SOL offer, all of our other assets were only valued for practiaclly nothing.
But now though, while we are only going to receive another 7.5 censt per share more, (although that only apply if they will reach the 90% as a minimum, or we will be left sucking our thumbs), they tell us that it is a very good deal and very well worth accepting it.
Really my friends I am totally lost for words as to why they feel the urgent need of such a change of mind.
And finally, I am still wondering as to what happened to an independent expert report that we were waiting for to tell us all what EXS was worth and if the offer was fair of unfair. And that was well before the sudden change in the Director's attitudes.
Once again, I am totally lost here too.
One thing is for sure though, and that is that I will not be selling any of my shares to them. Not under those conditions anyway.
Cheers
EXS Price at posting:
26.0¢ Sentiment: Hold Disclosure: Held
