All script takeover??

I have posted the below post on MEP today and was wondering if any posters have raised the possibility with ADN Management of an all script offer for the 25% that MEP owns of our halloysite/kaolin projects:
Thanks W2


Hi Jophda
I appreciate your post but I strongly disagree and here is why:

I think that an all script offer (cashless)- fairly priced, would be VERY attractive to ADN and there is also a very high probability that the value that is NOT currently being reflected in the MEP SP would almost instantly be reflected in the ADN SP. Therefore the risk to ADN of paying a full and fair takeover SP to MEP shareholders should be low and in a short period of time (weeks) would increase the MC of ADN and push the company into the ASX200 where investors would possibly bid the SP higher and higher as funds managers are compelled to buy ADN shares. It is always much preferable to own 100% of a project and ADN have proven themselves to be very good custodians and developers of the project.

Such an all script takeover would of course bring a significant premium to MEP shareholders, many of which I suspect would hang in until the ADN projects came into operation. the reason this might be possible is that if the current cadre of MEP SHs can stay the course in the old MEP with it's limited recent success in exploration, they would more than likely find ADN a very exciting and profitable share to own for a long period of time.

I think that this could be a very good option for MEP shareholders.

Disclosure I hold 15 MEP shares for every 4 ADN shares that I own.
Cheers W2