Ann: RMS:Ramelius makes Recommended T/O Offer for Spectrum Metals, page-262

I take your point and can understand that .
I noticed some rising trend a few weeks prior and wondered if something might've leaked .
(Usually does ,hard to keep these things totally dark , just a matter of how much .)
So I'm sure that's why RMS keen to act quickly and the deal obviously done provisionally on the settlement .

But there is one thing you're missing ....the market WILL decide !
The directors haven't stopped that .
Nothing to stop another offer , nothing to force people to sell .
You must concede SP fluctuates a lot ...sometimes ridiculously low , other times too high .
Not the best indicator of value .
The board know your company intimately .
Big holders will spend time and money analysing the situation I'm sure much better than you or I can .