scrip offer for bonaparte diamond mines, page-146

i believe bon directors hold 11% of bon capital making it after t/o that they hold some 2 million mak shares. Some 1.8% of mak capital post takeover.
(This calc excludes their existing mak shares)

As you can see it is a very small gain to the directors based on bon being worthless and they intend to sell. Impact on mak share price of selling of these 2 million shares will be minor.

Huge win perhaps you are trying to create a mountain out of a molehill.

As a mak holder i am neither negative or positive about the announcement, negaitive that we dilute 19% for an asset that we may never use, positive that perhaps we could have an asset that will serve a market that woonarah could not have and gain double the amount of profits for shareholders.

I am dissapointed most with how well organized this seemed to be with the sell down to 40 cents to make offer mirror bon price with the t/o offer. Very upset with the market manipulation. However that is the market.