I held BRB about 5 years ago, sold out when I thought Tom would just run it into the ground, and that’s what he did. He was obviously looking for a takeover, presenting it like an alley cat in oestrus to the Saracen’s and Silver Lake’s.
Sure, shareholders will always want more. Tom can say it’s worth more but he was selling BRB shares for 30c, 24c in the last few years; the market valued BRB less than 30c last week. 40cps is a healthy 40% premium and more than it’s been during the last 5 years or so.
Think if Tom takes back control and this TO doesn’t go through, the share price goes back to sub 30c. He might try to use the cash to build a standalone operation but he’ll need to raise a lot more, it’ll be at a price a lot lower than 40cps.
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