Thumbs up to SAY NO $3, page-93

@Joannie

I tried to outline that imo the board, when approached by ALB with its "best and final" offer, was faced with the choice of either

a) "tolerating" their entreaty and moving forward with an offer they were confident would fail on either of two counts...the independent expert was very likely to find the price "not fair and reasonable" and so it would be disqualified by the ASIC and the court...or if it was deemed fair and reasonable, it would likely FAIL to be passed on the vote by greater than 75% of shares voted?..and in the process of all this gaining time to move closer to production etc....or

b) telling ALB where to put their "best and final" offer and once ALB walked away as they would have to (by law), have LTR shareholder immediately exposed to "market" forces without the prop of the looming offer and see retail holders tested by shorters who would likely send our SP south big time.

If some retail holders are confused, they can be comforted that they might receive $3 per share in due course or indeed sell now at the discounted price. But at least they aren't being thrown under the bus which would be the case if the ALB offer was withdrawn.

It is literally incorrect to say ALB is under no obligation! They are! They have offered $3 and as long as the scheme deed is executed (which it hasn't yet) they are legally obliged to follow the legal steps to reach the vote etc. And pay the money if the vote is successful.

Regarding "no shop, no talk"...any party may make a counter offer eg RIO, but they won't get any assistance from LTR. That's all that means.Yes it is confusing, and that is why I have tried to put a framework around this to help people understand. As I mentioned on another post, people simply need to follow their views of what value LTR offers and vote accordingly if it comes to that. If it is passed, which I do not think will happen, then they will receive $3 Per Share they own. If it fails, the we will be much closer to production but may suffer some more short term volatility in our share price after the vote, so need to batten down like we have done before.

All the above is just my opinion and strategy and not advice to others...

Regards
DF