Durban Roodeport crashed 25.5% overnight ..valuing those Emporer...

Durban Roodeport crashed 25.5% overnight ..valuing those Emporer shares that were converted @ 4.4:1 at merely 58cents.

I've followed many takeover plays and it struck me as very odd at the time when Durban didnt extend its offer when within a breath of 50.1% of EMP at 45.3%...now its plain to see ...with a loss of that magnitude,,no one would take up the scrip only offer after the results were issued. They closed the offer to try and get as many succers thru the door and hopefully across the 50%..but it didnt quite work!

Aduina with 14.99% is currently seeking FIRB permission to cross the 15% mark...it will be interesting to see what eventuates,,,see I'd say they knew all about Durban's problems...now they're in the box seat...they want Emperor..and Durban needs the cash.

I'd expect there to be some volatility in EMP before heading north..I suggest buy on the dips...I'll be waiting for advice/email alerts from the "fats" on this one..I've taken their advice so far and not accepted the DRD offer(thank God) and sold half at 93c.

I'd say DRD has a definite case to answer in non disclosure during the offer period...especially with a loss of that magnitude.
I hold 35K EMP..and may buy more.