The Hannan's might have found a sneaky way of taking the company private but ultimately they're still losers for the following reason.
When PMP limited announced in October 2016 that they would enter into an agreement to acquire IPMG Pty Ltd, the market value of the company was $443M.
During the last 3 years the value of the company has declined by 90% and is now only worth $46M. With close to $400M of value being wiped from the company, the Hannan's are clear losers.
Until there is a change in Directors and Senior Management, I would only buy OVT shares if I wanted to declare a capital loss against gains from other shares that I own in better managed and profitable companies.
OVT Price at posting:
6.9¢ Sentiment: None Disclosure: Not Held
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