Originally posted by madamswer
“You do realise that in order to do any of that you have to convince half the remaining shareholders to support you. You are starting to sound a tad alarmist now.”
Alarmist?
Because I think that, once the offer expires on 5 March, the share price will go down?
Do you not think it will?
And they don’t need to get “half the remaing shareholders” to support them; only half of those who actually vote on the resolutions to remove directors. And they themselves will represent a significant element of that voting bloc.
Given how this company has been run into the ground by the current board, what do you think the chances are that most people who vote, will do so in a way to retain the incumbents?
No, I don't think it unreasonable that the price may go down post 5 march. For retail holders it may make good sense to sell and see. Likely where most of the 5% has come from so far.
For your information these are the people they need to convince to kick the board (no problem if they do) - but they aren't likely to hand it to Allens for $2.70 or they would have done so already.
(20min delay)