Here we go - GLI/BIV has now withdrawn the takeover offer for 10% of IDG, using the IDG announcement of the Tanzanian gold project's financials etc as a trigger to do so.
I really have no idea WHY (I keep coming back to that word) the BIV mob wanted a 10% stake in IDG in the first place... how does that work? What would it give them? And why would IDG holders want to swap IDG shares for worthless BIV shares anyway?
But - now they have their directors in place on the board of IDG. What are THEY going to do? Resign? Sell off everything and plunder the loot? Strip all the assets?
Has BIV been the ones selling down the IDG shares on market? They did declare their intentions to do so....
This whole deal STILL smells to me. Current holders are going to be left with zilch, methinks!
Shonky deals done in backrooms.
IDG Price at posting:
36.6¢ Sentiment: Sell Disclosure: Not Held
