I would be sympathetic to your views if I believed the widening discount is a permanent feature. But if everything goes back to normal in the next 3 to 6 months then this T/O price will be ridiculously cheap (already is at the moment). As an analogy, we will have been the investor that sold his stock on the day after the 1987 share market crash rather than waiting for a market recovery.
My view is that the Chairman just asked us to stop taking any action to de-rail the deal until it is too late to derail it!!! Come off it.
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- Ann: Chairman's letter - Scheme of Arrangement
Ann: Chairman's letter - Scheme of Arrangement, page-29
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