Hi to all disgruntled holders (with exception of directors), this has to be the most horrendous turn of events that I have ever witnessed. For a directorship of a company to 'back' a takeover at a time that this company is 'mushrooming', is nothing short of incompetence. It has already been reported by management, that the contracts of sale can take several weeks, however management would have known that an impending sale was imminent...correct? As such it is blatantly obvious that such a confirmed sale would indeed 'add value to our asset' ($7.4M actually) and therefore to 'back' an undervalued share price takeover offer is stupidity. Absolute stupidity!
I am not for one minute suggesting that the turn of events were incorrectly released to the market, but what I am seriously questioning is the reasons why management are 'backing' this undervalued takeover bid. It really does pose the question "what possible back scratcher is attached to this, for the directors?"
Surely the common sense of us holders will torpedo this bid by purely refusing to accept the offer, therefore making it impossible for Denison to get the share percentage required.
C'mon holders....show your true grit!
WCU Price at posting:
23.0¢ Sentiment: LT Buy Disclosure: Held
