Believe PAC need to advise if there is an issue with the process. There should be an update tomorrow with the release. As shareholders we have a right to know what is going on and should be provided with progress updates, particularly adverse issues that may put a takeover at risk. If it is known there is an issue with the process they are legally obliged to inform the market as soon as possible. The board is responsible for this.
Management will claim they can’t say anything due to process being undertaken and so many conflicts of interest. If there is any information made public it could put at risk any proposed deal.
Guess this is why Regal got frustrated with the Board.
Should be a good FUM announcement tomorrow. VPC and Pennybacker growth will the boutiques to watch. Not as excited as what I would normally be. Takeover has dampened enthusiasm on tracking progress.
PAC Price at posting:
$9.21 Sentiment: Buy Disclosure: Held
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(20min delay)