re: what is going on

Who is selling, you ask? Me for one. I sold straight after the announcement.

Having 76% of the company in the control of one person is NOT a good idea. Not to mention that there would be a lot of resentment that one person could get so filthy rich on the basis of one deal like this.

So the rest of the shareholders will get only 24% of the profits split into how many shares?

It seems like a ridiculous deal to me, and I think the board has NOT acted in the best interests of the majority of shareholders. They acted in the best interests of one who is now THE majority shareholder.

The market is telling ARH exactly what it thinks of the deal, and as they say, the market is always right.... ;)

And just as a digression - it irks me that he calls himself Professor. He is an adjunct professor - which means that he has been asked to act as an unpaid tutor/examiner/prize giver, etc for a university department. As far as I'm aware, that doesn't really give him the right to use the title of Professor. I feel that it is a touch of w a n k e r y to use the title. But that is irrelevant I guess, when he has been smart enough to acquire the land he has, then do the deals he has.

But ARH will suffer in the short and long term by having done this deal, no matter how delighted the board pretends to be. And the poor minority shareholders - that's all you lot out there still holding - will be the losers.