Ann: VAN: Vango's Response to DAU's Target Statement, page-4

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snicks

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25/10/18

14:38

Post #: 36259672
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Originally posted by kori: ↑

Snicks... well this reply from VAN absolutely and categorically refutes all points and accusations made by DAU as just self serving garbage...what is missing is the fundamental underlying principle that directors of any company should act in the best interests of all shareholders! Snicks in my opinion and if I were a shareholder of DAU the most damaging infraction of Directors duty of care that would concern me is in the following response:

Dampier Gold has not appointed an independent expert and has terminated the appointment of its financial adviser RFC Ambrian for undisclosed reasons
As first disclosed in the Supplementary Target’s Statement, Dampier Gold has since terminated this engagement and it is now in dispute with RFC Ambrian regarding fees owed by Dampier Gold. Dampier Gold’s unsupported claims that the Offer is “inadequate” are particularly concerning in circumstances where, in addition to having provided no valuation information substantiating that claim,Dampier Gold is in dispute with the financial adviser engaged for the Offer and has not commissioned an independent expert.

One can only imagine the conclusion that RFC Ambrian came to in regards to whether VAN's offer was deemed to be fair and reasonable...if only ASX and ASIC had teeth!!

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Great summary @kori
I am definitely completing my offer forms to sell DAU for VAN.shares
Nice tidy profit but main reason is to send a message to these $%$&$#$ directors of DAU!!

DAU Price at posting: 4.0¢ Sentiment: Hold Disclosure: Held
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