Next week it will be four months since Mosman intimated its intention to make a takeover of Meo.
Despite an offer statement, revised offer statement, and two letters sent to shareholders, over this period and all the discussion it has generated on both the Hot Copper and LSE forum, the last word on the take up was less than 2% in favour.
Now this reveals a truly and utterly catastrophic error of judgement by those running Mosman.
Why will they not accept the verdict of Meo shareholders?
Do they have some deep underlying master stroke ready to unleash on us?
Well it would have to be the master stroke of all master strokes to even make me give this doomed deal a second glance.
Their last financial statement and its auditor cautionary statement pointed very clearly the likely way forward, and sure enough it happened last week a capital raising at very near historical lows, for half a million GBP.
Now when you look at their forward work plan aspirations just how far do you think half a million will go?
No I never had a good feeling about Mosman right from the start and everything since then has reinforced that opinion.
So a plea to anyone in power at Mosman who reads this post......... Please do not heap further humiliation on yourself by extending this offer beyond the 8th May.
In fact since the offer can be withdrawn at any time, why not do the obvious thing and withdraw from this oh so clearly ill judged venture.
MEO Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
