Bottom line is > 60% of NME holders have not accepted offer after 9 months.
Now that focus is not on the core business, market has (quite rightly) unfavourably priced in the knife throwing and resultant counter defending machinations of both BOD's into respective share prices.
Current SP's make the original offer, that > 60% of NME holders have not accepted - even more unfavourable.
Understandable that motion to oust NME BOD was logical next step after that - but that failed. Another effort to oust NME Board < 3 months later = more machinations, because in reality, a quick look at top 20 holders at NME implies that these same holders, including current NME Board, will be well represented, and able to exert influence in a combined entity top 40 list anyway??
Options: 1. Press on with the offer for the allowable 12 months ❌ 2. Withdraw offer and play nice with each other ♂️ Both entities can move forward with CR and move the project forward. 3. Move forward with one combined entity by increasing offer - but set director limits for both MCT and NME on new combined entity - WITH an independent director (not MCT nor NME aligned)✔️ 4. Then CR ✔️
♂️
MCT Price at posting:
0.4¢ Sentiment: None Disclosure: Not Held
