Thanks for your detailed insight. I agree with your comments re Keith John. He has a lot to lose financially from a poor shareholder outcome & he is probably the PI's beat advocate. Where the rest of the BOD would favour a sell out at that what most would consider sub optimal price, he would be trying his best to get replacement finance to continue as before. Of course the synics would say for his 'big pay cheque'.
The thing that keeps niggling me is that we've been through this earlier in the year putting on a spin in the face of the inevitable (poor outcome), I just hope this time is different.
Of the 3 options of a outright takeover paid in shares from another listed ASX, financing to continue as normal or a takeover cash payout (same value as takeover) I'm not sure of which I prefer. This whole situation has left a bad taste in my mouth re investing in the industry & cashing out may be the best option. Especially if they do relist & it takes a couple of years for the share price to even get back to the $2.50 mark after the inevitable sell off.
PNC Price at posting:
$2.46 Sentiment: None Disclosure: Held
(20min delay)