It doesn't take much digging to see where we could end up with this offer and it doesn't look pretty. Have a look under the code IDG and have a long read of what happened there. The title of the last thread is Class Action and that tells the story. IDG was another cash box that the same parties got hold of by a restricted offer. Then a buy-back to increase their shareholding further. Then a consolidation (for a small cap trading at 30c to make it a $3.00 share - nuts?) and then stated the stock had got too illiquid so delist it WITH A PILE OF CASH IN IT. No hope getting that money out and they win a big payout at the expense of all the other shareholders all in a private company that they control. This has me very worried. Hasn't the board done some searching on what the parties behind evoworld did in their last takeover?????? All they want is the cash. Board would be better off closing it up and paying everyone out the cash than watch it disappear.
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