Ann: Cash offer for Legend Shares, page-9

I've been in and out of LGD for a number of years (since 2014), but of late (last 2 years at least) have just been watching from the sidelines. I've noted over that time managements continued efforts and frustration (expressed in some part with churnings in the team) to make this business really hum.

Who is going to run the show when Adamantem takes over? Would they break it up and sell the parts? Or would they assist management by freeing them from capital constraints and help enable their vision? From their website:

"At Adamantem Capital, our ambition is to consistently produce outstanding returns for investors by supporting management teams to take considered risks to create change and grow value."

So what arrangements have been made with management that you as punters are not privy to? Most likely BD and his team will do better out of the scheme than you will as they continue to "create change and grow value" in a way they couldn't before. I agree with others comments that the offer is too low.