HDR hardman resources limited

when is the 11th hour up

  1. 855 Posts.
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    We are approaching the 11th hour - the vote on the Scheme of Arrangement with Tullow.

    If a higher bid is going to come through, when do HC reckon this higher bid must occur by?

    I reckon that last week's annoucement of oil in Mauritania, coupled with the flow test results (which imho should be tomorrow) should result in a higher bid - at least by Tullow if no one else.

    Also, today I noticed that - at one stage - there where over 1.6mil shares between 4 bidders at 2.08, and some 1.2 mil shares at 2.09 between 100+ sellers.

    So obviuosly there is still some large holdings being bought on market - imo most likley institos looking for a higher bid.

    Do others agree? Anyone with any thoughts when a higher bid can effectively be ruled out ? (ie on the day of the meeting could a higher bid surface or would it be too late?)

    Cheers..
 
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