Well, let's not get carried away. The Panel has made a decision. We don't like it but they can only go by what they have and by what EWC provided. As they said, so far EWC has done nothing wrong and it's true. They may have done a lot of strange things and the panel noted that, but so far they provided whatever was needed at the time. If Starr's wife wants to sell shares, then so be it. Legally there isn't anything wrong and that's what the panel said.
Now we wait for the bidder's statement which is at most 3 weeks away.
No need to go all crazy about this decision. For us, nothing much has changed at all. Except that the bidder's statement is going to be delivered as late as possible to allow for enough time to secure the conversion of EWC into a public company.
In the end we don't have to be too concerned. I can't see this bid getting passed the majority of shareholders.
Another few weeks... So be it.
It keeps things interesting. Let's face it, without this bid we wouldn't have much to talk about. NWT has still not produced anything substantial that would justify a share price of 1 cent. Once they do, this takeover becomes a farce. But they don't seem to be able to deliver for now. I say they should stop complaining and tackle this problem with solid growth and bottom line profits that show us how good they really are instead of talking about a full pipeline and major contracts that still take months to finalise.
You buy now, you can't lose. (Unless NWT goes bankrupt but that's not really an option). So what's the problem?
If anything, it will make for some entertaining announcements from both sides today... :-)
Good luck!
NWT Price at posting:
30.0¢ Sentiment: ST Buy Disclosure: Held
