loss on shares?, page-6

Sludge ,

I hold Igas and Dart and don't see this as a sell out .

Of course none of us would accept a 19c cash deal but this is scrip for a merger and we retain exposure to the existing assets and gain exposure to new .

A good point our fellow HC'ers made is Igas carry debt in the form of a bond .

It definitely sucks that there are no-talk and no-shop conditions but surely all they do is give Igas a get-out if they get cold feet .

Dart directors would be obliged to listen to all offers as it is clearly in shareholders interests to do so .

An alternative all cash offer would have to be more than 40c (cash) to even be equivalent to what is on offer imho .

I reckon the NSW acreage has value and that is why Dart are not selling it .