Basically current SBM SHs will be diluted to hell. I don't know how good is GMD exactly, but according to their current status, I don't believe it should be valued higher than SBM itself for the least to say.
Why does SBM need to do such thing? So called synergy - I would say, when sharehoders will have to fund two boards - one for bigger board of HHL and another for the expected money loosing PML, where can we see the saving?
I would rather they put Atlantic and Simberi into C&M and focus on Gwalia. Just that, if they can manage the operation and control the costs properly, Gwalia alone should reward us better than right now.
Is there any chance to veto this merge? I feel disgusting!
SBM Price at posting:
65.0¢ Sentiment: None Disclosure: Held
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